Dogecoin Price Could Surge to $8.5, Analysts Predict Massive Rally Ahead
A leading crypto analyst, EWT, has put forward an optimistic outlook for Dogecoin, suggesting the meme coin could potentially surge to as high as $8.5.
According to his technical analysis, Dogecoin’s current price action points to a possible rally, driven by its current position within a subwave setup. EWT’s chart analysis indicates that after Dogecoin potentially reaches the $6 mark, it might undergo a correction to $1.2 before resuming its upward trajectory.
$DOGE a quick zoom in tells us that we are definitely in a (1)-(2) subwave set up increasing the wave ((3)) pink target.#Elliottwave #DOGE #Dogecoin https://t.co/WFNmQyAVKQ pic.twitter.com/tbykuAGYc6
— EWT (@EWcycles) March 4, 2025
If the upward movement follows through, the analyst expects Dogecoin to hit the $8.5 mark, with a possibility of exceeding it and even reaching double-digit territory.
This bold forecast aligns with a previous prediction by EWT, who also suggested that Dogecoin could make substantial moves within the year, possibly hitting targets as high as $20 or even $45 if it manages to approach the upper boundaries of its ascending channel.
READ MORE: Trump Vows to Make America the Bitcoin Superpower, Ends Crypto Crackdown
Despite the meme coin’s struggle to maintain support above the $0.2 level, analysts, including Trader Tardigrade, have remained optimistic, foreseeing a potential bullish reversal that could propel Dogecoin to new highs in this market cycle.
Another analyst, DOGECAPITAL, has echoed the bullish sentiment, forecasting a possible rally above $10 for Dogecoin during this cycle.
Drawing comparisons to previous market cycles in 2017 and 2021, DOGECAPITAL highlights that Dogecoin’s weekly chart is showing similar behavior, suggesting that once the bottom is confirmed, the coin could enter a second phase marked by a dramatic surge. This could push Dogecoin to a price range of $2 to $5 before potentially reaching its target of $26, with further gains expected over time due to the line’s gradual slope.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
