A major price surge may be on the horizon for Dogecoin (DOGE), according to CobraVanguard, a highly followed market analyst. In a recent TradingView post, the analyst warned that this could be the last opportunity for investors before DOGE skyrockets.
DOGE’s Support Retest Signals Potential Breakout
CobraVanguard shared Dogecoin’s daily price chart, emphasizing how the memecoin recently retested a critical support level. This level aligns with the 0.382 Fibonacci retracement, which previously triggered a significant rally. In January 2025, DOGE surged to $0.43408 after bouncing off this same Fibonacci level. At the time, the analyst had predicted an even higher target of $0.47.
Based on this latest support retest, CobraVanguard now projects two potential price targets for Dogecoin:
$0.32 (aligned with the 0.618 Fibonacci retracement level)
$0.60 (corresponding to the 1.272 Fibonacci extension level)
These targets represent potential gains of 25% and 134%, respectively, from DOGE’s current price of $0.2569.
Bullish Divergence on MACD Adds to Optimism
Beyond Fibonacci levels, CobraVanguard also pointed to a bullish divergence on the Moving Average Convergence Divergence (MACD) indicator. This pattern signals a shift in momentum, often preceding strong upward price action.
Dogecoin’s price history suggests that such technical setups frequently lead to explosive rallies, making the current levels a crucial entry point for traders.
Related article: Dogecoin Surges 4% After Elon Musk’s DOGE Website Launch—$0.5740 Price Target in Sight?
“DOGE Season” is Here, Another Analyst Claims
CobraVanguard is not the only analyst predicting a Dogecoin rally. Market analyst Trader Tardigrade believes DOGE has entered “DOGE Season,” referring to the coin’s historical price cycles. He warned that once Dogecoin gains momentum, it becomes impossible to chase.
Dogecoin has a well-documented pattern of explosive surges followed by extended corrections. The memecoin has dropped 58% from its January peak of $0.48434, hitting a recent low of $0.20178. If history repeats itself, this downturn could set the stage for a massive comeback.
Will DOGE Hit $0.60 Soon?
If DOGE follows its historical price trends, the memecoin could soon break out of its current consolidation phase. Analysts are watching key resistance levels closely, with $0.32 and $0.60 as potential upside targets.
For investors, the window of opportunity may be closing fast. If DOGE Season takes off as expected, those who wait too long may miss out on the next big rally.
