Dogecoin Poised for Parabolic Rally Despite Recent Weekly Decline, Says Analyst

The crypto analyst Trader Tardigrade is growing optimistic about Dogecoin, who predicts a parabolic phase could drive the meme coin above $1.50 this cycle. The prediction arrives at a time when DOGE is experiencing price fluctuations and weekly losses. The largest meme coin, in terms of market capitalization is currently trading at $0.2448, showing a drop of 1.21% over the last 24 hours at the time of writing. Throughout October, the token experienced significant fluctuations, ranging from $0.245 to $0.27. Historical Price Patterns Signal Bullish Momentum The analysis by Trader Tardigrade reveals three separate stages of the market behavior of Dogecoin, including consolidation, slow bull, and parabolic cycles. The consolidation process began in mid-June 2022, and the trade was above the 0.05 price level. It lasted until mid-October 2023, with little upward movement, although there were some instances of spikes above $0.1. The chart shared by Tardigrade shows the historical price movements The slow-bull stage began in the middle of October 2023 and gave DOGE a boost up to $0.2288 by March 25, 2024. The bearish force, however, caused the fall to $0.09 by August 5, 2024. The token subsequently ran up to $0.46 on December 9, 2024, and then fell to $0.14 on April 9, 2025. Dogecoin has been proving a slow recovery with average variability since the April bottom. According to Trader Tardigrade, the next significant cycle is the parabolic cycle, which could push the prices more than $1.50. It would require an increase in the target by 502.45% over current levels. Technical Analysis Supports Upside Potential Several indicators suggest a bullish trend in Dogecoin's near future, as identified by multiple analysts. On October 7, Trader Tardigrade highlighted the positive trend on the 4-hour chart, indicating a potential transition to $0.29. Dogecoin pattern on the 4-hour chart Bitcoin analyst Bithereum_io noted a tightening symmetrical triangle shape on the daily chart on October 5. This is a technical trend that typically precedes major price action. A successful breakout could target December 2024 highs, with initial resistance at $0.298. Other price objectives are $0.337, $0.394 and $0.466. The discussion suggests that the current levels may serve as a potential entry point for buyers seeking to capitalise on an upward trend. Traders remain sensitive to technical indicators that can support the bullish thesis. Although there are encouraging projections, analysts note that there can be some downside. Bearish pressure may push Dogecoin down to support levels of 0.220 to 0.209. These are also in harmony with the 200-day simple moving average at 0.204, which serves as a vital technical support level. The meme coin industry is exceptionally unpredictable, and sentiment-driven price movements can shift rapidly within a short period. The traders closely monitor market conditions, with Dogecoin attempting to establish a long-term uptrend. Several factors, including the overall trends of the cryptocurrency market and the involvement of retail investors, will determine the emergence of the predicted parabolic phase. The next few weeks will be pivotal in determining whether Dogecoin can overcome resistance zones and bode well for positive movements in bullish speculations, as predicted by technical analysts.