Dogecoin: Is the Bull Run Just Getting Started? Analyst Sees Echoes of 2021

A leading crypto analyst, known as Cantonese Cat, offers a compelling counter-narrative to the prevailing sentiment regarding Dogecoin's market trajectory. Far from concluding its run, the analyst suggests that the popular meme coin is structurally poised for a significant late-cycle surge, mirroring the explosive patterns observed in previous cryptocurrency bull markets. This perspective challenges the notion that the current crypto cycle has peaked, arguing that Dogecoin's most decisive moves are yet to unfold.

Is The Dogecoin Bull Run Over?

Cantonese Cat's comprehensive market analysis, published recently, ties Dogecoin's current behavior to established liquidity cycles and inter-market signals. He argues that the market has not yet witnessed the characteristic Dogecoin breakout that, in past cycles, consistently coincided with Bitcoin's final phase of acceleration. While Bitcoin has steadily climbed, DOGE has largely remained in a base-building phase, participating only marginally. The analyst explicitly states that the true trigger for Dogecoin is an all-time-high breakout, which historically precedes Bitcoin's own acceleration. He frames this relationship as a recurrent feature of market dynamics, asserting that the absence of such a DOGE breakout is a key reason to reject the thesis of an ended crypto cycle. He characterizes the recent price action as a "wear-you-out phase," marked by a sharp deleveraging that, while hardening bearish sentiment, has not invalidated the underlying long-term structure primed for upside.

DOGE Price Targets Revealed

While not issuing fresh targets in his latest video, Cantonese Cat refers back to his earlier price-target frameworks for Dogecoin. He had previously argued that DOGE could be entering Wave 3 of an Elliott Wave structure, following its successful reclamation of the 0.618 Fibonacci retracement level (approximately $0.20088). From this framework, potential upside projections are outlined around $0.48 (1.0 extension), $0.89 (1.272), $1.23 (1.414), and a more ambitious $1.96 (1.618). Furthermore, in more speculative commentary, he has floated outcomes exceeding $2.00 if acceleration occurs, and even presented a case for DOGE to potentially hit $4.00 within this cycle. Despite stressing that his insights are not financial advice, the analyst remains steadfast in his conviction that the "Dogecoin moment" is still ahead, viewing the coin as "coiled" rather than having concluded its potential ascent. As of press time, DOGE traded at $0.201, keeping traders on edge for its anticipated move.