Dogecoin trades slightly below $0.18 today, down about 2% on the day. Momentum cooled after last week’s bounce, but the monthly structure remains the main story. Crypto Patel’s new chart puts that structure front and center
Breakout and retest on the monthly chart are done. The same pattern that preceded the 2017 and 2021 mega runs appears to be repeating. His targets sit at $2 first, then $5 if the move extends.
What Patel’s DOGE Chart Is Showing
The chart maps a large multi-year consolidation that looks like a symmetrical triangle on the monthly timeframe. Price broke through the upper trendline, pulled back, and tagged the breakout zone again. Both prior cycles showed the same sequence: compression, breakout, retest, vertical expansion. Green projection boxes measure the size of the prior impulse and apply it to today’s setup, which is how the $2 and $5 Dogecoin price targets appear on the right side of the chart.
Two blue circles mark the retest events: one from the 2020–2021 cycle and one from the current structure. The message is simple: structure is intact, confirmation is in, and the next leg could be parabolic if history rhymes. Patel moderates expectations to a 10x–33x range, which lines up with $1.80 to roughly $6.00, while calling out $2 and $5 as cleaner, round-number targets for the DOGE price.
Monthly breakouts filter noise. They also compress a lot of energy. If the breakout holds into month-end, trend followers and long-term funds often step in. A completed retest adds confidence because it proves demand exists at the prior ceiling. That is what the two check marks on the chart are signaling: breakout, then retest.
How Realistic Are $2 and $5 DOGE Price Targets?
A move to $2 implies around a 10x from current levels. That would push market cap into the low hundreds of billions with today’s circulating supply. A stretch to $5 implies a market cap well north of half a trillion dollars. That kind of valuation demands a broad risk-on environment, heavy spot liquidity, and a strong Bitcoin uptrend. It also assumes Dogecoin keeps its cultural edge and continues to capture retail flows during peak cycle euphoria.
Monthly close above the breakout line keeps the structure valid. Weekly higher lows will help. Failure to hold the retest zone would weaken the setup and push focus back to the mid-$0.12–$0.14 range where trend support sits. Bitcoin remains the governor; sustained strength there is typically a tailwind for DOGE.
The pattern is clean and the retest is constructive. The path to $2 looks plausible in a strong cycle. The leap to $5 needs exceptional cycle conditions, but it cannot be dismissed if momentum snowballs.
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