Dogecoin Price Hasn’t Begun Its 3rd Wave Yet, ATH Above $0.8 Still In The Cards

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The recent Dogecoin market action has seen its price now hovering below $0.20 after surging to $0.208 in the past 24 hours. Despite the consolidation, analysts and traders are watching the meme coin closely, believing that the next major move could redefine its long-term trajectory. 

Among those voices is crypto analyst EtherNasyonaL, who predicted that Dogecoin’s third and most powerful bullish phase is still ahead. His technical analysis on the monthly chart presents a structure that reveals the groundwork for another massive uptrend to above $0.8 is alreadyin motion. Dogecoin’s First Two Bull Waves Set The Stage

The monthly candlestick price chart shared by EtherNasyonaLcalls attention to Dogecoin’s cyclical nature since 2014, showing two completed bull waves and a third one forming. Each of these bullish waves was formed after Dogecoin broke above and then retested the upper trendline of a descending channel of lower highs that had confined its price action in the preceding years. This retest was also highlighted by a confluence of the 25 Moving Average (MA) indicator. Related Reading Pundit Says XRP Price Risks Crash Below $1, Here’s Why 1 day ago

The first wave, which began in 2017, caused Dogecoin’s earliest exponential rise from near-zero levels, right when the meme coin entered into popular crypto discussions. The second, and far more explosive, bull wave occurred between 2020 and 2021, when Dogecoin surged from under $0.003 to an all-time high of $0.7316, which has stood until now. 

Each bull run started once Dogecoin reclaimed its 25-month moving average as support, following extended consolidation periods that spanned multiple months. The current setup reflects the same condition, as the 25MA line has once again turned upward, and Dogecoin has successfully retested the upper trendline of its previous descending channel, as shown in the chart below.

Dogecoin 1M price chart. Source: @EtherNasyonaL on X 3rd Bull Wave Setup: Resistance Retested, Accumulation Ongoing

The analysis reveals that Dogecoin has recently broken free from a long-term downtrend that spanned between mid-2021 and early 2025. Notably, recent crypto market liquidation events inOctober have seen the Dogecoin price complete a successful retest of the resistance level, now turned support, around the $0.17 to $0.20 price range.  Related Reading Economist Explains The Reality Behind XRP Price Reaching $100,000, It Can’t Overtake Bitcoin 1 week ago

This successful retest also coincides with a simultaneous bounceoff the bottom trendline of an ascending channel. EtherNasyonaL describes the current price action as Dogecoin “accumulating strength in the lower band of a years-long ascending channel.”

The projected trajectory on the chart above shows Dogecoin following its established pattern by moving from the lower region of the ascending channel to its upper boundary. If the third bull wave plays out as the previous two did, Dogecoin’s price could challenge its $0.73 all-time high and break into new price territories.  The first price target in this case is the $0.8 mark, and then as high as $4 in the long term.  DOGE wobbles amid selling pressure | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com