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Dogecoin Blasts Off? Analysts Baffled as Price Points Skyward!

BBG News

If you’ve ever stared at your Dogecoin wallet and wondered whether it could possibly do less, congratulations, you have witnessed the last five months. Dogecoin (DOGE) has spent more time consolidating than the universe itself did before the Big Bang, but just as you were falling asleep out of sheer boredom, the price appears to have remembered what moving feels like.

Technical Breakout: The Chart That Finally Got Out of Bed 🛌🚀

According to some very serious analysis (performed by people who own more charting software than socks), Dogecoin has heroically clawed its way out of a “descending channel”—which is technical jargon for “downhill with no brakes.” Having broken free, DOGE then trotted back just to poke at the old ceiling, patted itself on the back, and declared it a new floor. Bulls everywhere are reportedly high-fiving their calculators.

The next stop on this interplanetary bus line is $0.27, at which point people may faint, dogs may eat homework, and memes shall proliferate. If optimism reaches ‘Elon tweets’ levels, DOGE could rocket to $0.39 or maybe even $0.43, provided the laws of mathematics take a brief holiday. Should the universe throw a plot twist, there’s support at $0.17 — or what traders call “the crash helmet zone.”

Short-Term Price Action: Now Featuring More Waves Than The Sea 🏄‍♂️

Recent price action shows DOGE is presently surfing above a support wave somewhere between $0.17 and $0.1777 (precision is paramount — don’t even think of $0.1776, you rebel). According to Elliott Wave theorists, who see the ocean in any puddle, DOGE may be beginning its legendary fifth wave—that’s the one you tell your grandkids about.

Right now, there’s a potential three-wave sequence brewing; the third wave could top out at $0.196, while the elusive fifth wave is rumoured to carry DOGE up to $0.206 or even $0.213 (cue a fanfare of Fibonacci). Should DOGE break $0.185, well, sharpen your pitchforks and load up your rocket gifs—it’s probably going higher. Unless, of course, DOGE dives below $0.17, in which case we all pretend to have always liked cats.

Macro Trends: In Which Even the World’s Money Supply Is a Doge Fan 💸🐕

Zooming out, we discover an unholy alliance between macroeconomics and meme coins. There’s a plot thicker than Vogon poetry connecting global M2 money supply and DOGE prices. For those not keeping score at home, M2 includes cash, checking accounts, and probably a few forgotten dryer sheets.

The latest theory, fresh from the frontier minds of Twitter, is that Dogecoin’s price action lags global M2 by approximately 110 days, not counting those wild moments after the Trump election when everyone bought DOGE and then presumably sobered up.

There has been a lot of talk about the correlation between the price of Bitcoin and the Global M2 money supply. But how about Dogecoin? With a 110 day offset and ignoring the $DOGE price craziness after the Trump election, there is a pattern relationship for when money flows…

— KrissPax (@krisspax) May 3, 2025

If the summer sees a tsunami of new money sloshing into quirky cryptos, we may witness the kind of price action last spotted on cartoons. Bulls, memes, and macro all line up, holding hands and singing “To the Moon,” which, coincidentally, was not the original plan for any currency ever.

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2025-05-04 06:25

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