Dogecoin Eyes Explosive 2025 Rally as Analyst Flags "Third Wave" Advance Dogecoin (DOGE) appears to be setting the stage for a substantial bullish run in 2025, according to a recent analysis by prominent trader and market commentator Cantonese Cat. Utilizing Elliott Wave theory and Fibonacci retracement levels, the analyst suggests that DOGE's weekly chart structure indicates the start of a powerful "third wave" advance, historically the most aggressive phase of a crypto rally.
Technical Indicators Point to Significant Upside
The analysis highlights that following its initial "Wave 1" surge between December 2024 and January 2025, Dogecoin experienced a corrective "Wave 2" pullback. This retracement successfully tested the critical 0.618 Fibonacci level, anchoring around the $0.20088 mark. According to Elliott Wave principles, a decisive reclaim and sustained hold above this 0.618 level on higher timeframes serves as a crucial structural pivot, signaling a transition from corrective price action back into an impulsive uptrend. The current weekly candle is poised directly on this pivotal line, indicating a key moment for buyers to assert dominance.
Ambitious Price Targets on the Horizon
Should Dogecoin confirm this bullish "third wave" trajectory, significant price appreciation could be on the cards. Cantonese Cat's Fibonacci projections outline potential topside targets for DOGE, starting at $0.48, corresponding to the 1.0 Fibonacci band. Further extensions envision price points reaching $0.89 (1.272 Fib extension), $1.23 (1.414 Fib extension), and an ambitious $1.96 (1.618 Fib extension). For these targets to materialize, Dogecoin must maintain its current position above the $0.20088 pivot point, demonstrating the strong bullish breadth and momentum typical of a third wave. At press time, DOGE is trading near $0.20.
