Dogecoin (DOGE) continues to capture the attention of traders and crypto enthusiasts alike, especially as a prominent market analyst outlines a compelling technical roadmap for the meme coin’s potential surge to fresh all-time highs. With DOGE showing signs of consolidation and recovery, sentiment is shifting toward bullish anticipation—fueled by expert insights grounded in time-tested technical analysis frameworks.
At the center of this renewed optimism is pseudonymous trader Bluntz, whose accurate market calls have earned him a growing following of over 292,900 on X (formerly Twitter). Bluntz recently shared a detailed outlook suggesting that Dogecoin may be on the verge of a powerful upward breakout, potentially reaching $0.85—a new peak that could reestablish DOGE’s dominance in the meme coin ecosystem.
Elliott Wave Theory Points to Major DOGE Surge
Bluntz’s analysis is rooted in the Elliott Wave Theory, a technical approach that interprets market cycles as reflections of collective investor psychology. According to this model, strong bullish trends typically unfold in five distinct waves: three impulse waves (one, three, and five) moving upward, separated by two corrective phases (waves two and four).
In his latest assessment, Bluntz identifies Dogecoin’s recent dip to $0.339 as a completed wave four correction within an extended wave three impulse. This interpretation implies that the downward movement was not a reversal but rather a healthy consolidation—clearing weak hands and setting the stage for the next explosive leg up.
“Nothing changed, we just had a nice 23% low time frame dip I’m counting as a wave four within a monster extended wave three impulse. Once the next DOGE leg-up starts, it will probably start to suck liquidity out of smaller memes again.”
This perspective suggests that DOGE didn’t lose momentum—it was gathering strength. And with smaller meme coins experiencing short-lived rallies, Bluntz believes their gains were merely temporary rotations while Dogecoin rested. Now, with positioning favorable, the spotlight could swiftly return to the original meme coin.
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Why $0.85 Could Be the Next Milestone
Based on his charting framework, Bluntz projects that Dogecoin’s upcoming fifth wave could propel the asset toward $0.85. That would represent a new all-time high, surpassing DOGE’s previous record of $0.731 set during the 2021 bull run.
For context, at the time of writing, Dogecoin trades at approximately $0.372—still down about 49% from its peak. However, technical indicators and price structure suggest that this current phase may be the calm before a parabolic move.
Bluntz envisions an ideal price trajectory involving a gradual climb over several days, building momentum before erupting into another vertical breakout—similar to past explosive rallies seen in DOGE’s history.
“Ideal scenario for DOGE is a slow grind up over the next few days which could set the stage for another parabolic breakout later in the week… I think DOGE is gonna gently remind everyone who the king is this week.”
Such language reflects more than just price prediction—it underscores Dogecoin’s enduring cultural and market significance. Despite the rise of countless new meme coins, DOGE maintains strong community support, brand recognition, and integration into real-world payment systems.
Market Dynamics: Liquidity Shifts and Meme Coin Rotation
One of the key insights from Bluntz’s analysis is the idea of liquidity rotation among meme coins. When major assets like DOGE consolidate, capital often flows into smaller, more speculative tokens, creating short-term pumps. But once the leading asset reignites, liquidity rapidly shifts back—leaving lesser-known coins behind.
This dynamic explains why many alternative meme coins saw sharp rallies recently while Dogecoin appeared stagnant. According to Bluntz, those moves were not signs of DOGE’s decline but rather symptoms of market behavior during consolidation phases.
Now, with technical conditions aligning for a new impulse wave, traders should watch for early signals of increased volume and sustained upward movement in DOGE. These would confirm the start of the next bullish phase and possibly trigger a broader re-rating across the crypto market.
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Frequently Asked Questions (FAQ)
Q: What is the Elliott Wave Theory?
A: The Elliott Wave Theory is a form of technical analysis that identifies recurring wave patterns in financial markets, driven by investor psychology. It proposes that markets move in five-wave impulses in the direction of the main trend, followed by three-wave corrections.
Q: Is Dogecoin likely to reach $0.85 soon?
A: While no price prediction is guaranteed, Bluntz’s analysis suggests that $0.85 is a plausible target if current technical structures hold and DOGE enters its fifth impulse wave. Market conditions, volume, and macro trends will play crucial roles in determining whether this target is achieved.
Q: How does Dogecoin compare to other meme coins?
A: Dogecoin remains the original and most recognized meme coin, with widespread adoption, community support, and real-world utility. Unlike many newer meme tokens built purely for speculation, DOGE has longevity and infrastructure advantages.
Q: Can small meme coins outperform Dogecoin long-term?
A: While smaller meme coins can experience rapid short-term gains due to low market caps and hype, they often lack sustainable use cases or development teams. Dogecoin’s brand strength and network effects make it more resilient over time.
Q: What should traders watch for in DOGE’s price action?
A: Key indicators include rising trading volume, sustained breaks above resistance levels (such as $0.40 and $0.50), and bullish candlestick patterns. A confirmed breakout from consolidation could signal the start of a new uptrend.
The Road Ahead for Dogecoin
As the crypto market evolves, Dogecoin continues to prove it’s more than just a joke coin. Its resilience through multiple market cycles, combined with strong community engagement and periodic surges in trading activity, keeps it relevant—even amid constant innovation in the blockchain space.
Bluntz’s forecast adds to a growing body of technical evidence suggesting that DOGE may be preparing for another major move. Whether it reaches $0.85 or beyond depends on broader market sentiment, macroeconomic factors, and institutional interest—but one thing seems clear: the dog still has teeth.
With increasing attention from both retail and algorithmic traders, any confirmed breakout could spark rapid momentum and widespread media coverage—just like in previous bull runs.
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Final Thoughts
Dogecoin’s journey from internet joke to top-tier cryptocurrency has been anything but predictable. Yet patterns do emerge—and technical analysis offers valuable lenses through which to view potential future paths.
Bluntz’s Elliott Wave-based outlook provides a structured framework for understanding DOGE’s current phase: not as a fading trend, but as a sleeping giant preparing to awaken. As history has shown, underestimating Dogecoin can be a costly mistake.
For traders and investors alike, staying informed and monitoring key price levels will be essential in navigating what could become one of 2025’s most talked-about crypto narratives.
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