Dogecoin (DOGE) Could Still See a 30x Price Surge to $6: Here’s How

March 6, 2025

Yesterday, news broke out that there will be weekly livestreams featuring Elon Musk and Vivek Ramaswamy, where they discuss recent developments in the Department of Energy (D.O.G.E.). Of course, almost immediately, tokens on both Ethereum and Solana's ecosystem were created with the same name. We will be focusing mostly on the one on Ethereum since in this ecosystem there are more PolitFi traders who can drive the price up. Is Dogecast the Next Big Meme Coin? Current market cap of Dogecast on this network is around $7 million and this could potentially go much higher, especially when Elon starts tweeting about it. He actually already confirmed 2 days ago that there will be weekly updates about DOGE. However, he still needs to use the actual word "Dogecast" and this could go bananas. https://twitter.com/DogecastETH/status/1857685094166667413 A lot will also depend on how frequently Elon discusses this topic and when the podcast actually launches. According to reports, it's starting "soon," and once the official date is announced, it could potentially benefit the price as traders will have a specific date to focus on. This kind of concrete timeline often creates anticipation in the market. Of course, note that this is a new meme coin that relies mostly only on a narrative that could be hot in the upcoming days but it also depends on their CTO and team. If they decide to rug pull, it can easily go to 0. However, if they don't do that and narrative stays hot, we are potentially looking at $50 million market cap or even $100+. Remains to be seen in any case.

Dogecoin has been silently forming a massive pattern that few investors have noticed. The meme coin that started as a joke could be setting up for a big rally, according to technical analysis from a respected chart analyst.

Popular crypto analyst Ali highlighted this potential on his X account. He states:

“#Dogecoin $DOGE remains within an ascending parallel channel. As long as the lower boundary at $0.16 holds, a rebound toward the mid-channel at $2.74 or even the upper boundary at $6.24 remains a probability!”

The weekly logarithmic price chart reveals that Dogecoin has been respecting an ascending parallel channel since 2015. Currently trading at around $0.20, DOGE sits just above the critical support level of $0.16 – the lower boundary of this long-term channel.

If this support level continues to hold, technical analysis suggests Dogecoin could potentially reach the mid-channel target of $2.74. Even more impressively, a continued bullish trend could push DOGE all the way to the upper boundary at $6.24 – representing a staggering 30x increase from current prices.

However, investors should note that if the $0.16 support fails to hold, DOGE could drop to lower Fibonacci levels around $0.10 or even $0.07, potentially invalidating the bullish structure.

Some Factors that Can Drive DOGE Price Up in the Long Term

Beyond the charts and technical patterns, several real-world factors could push Dogecoin to new heights in the coming years.

Social media and celebrity endorsements have repeatedly shown their power to move Dogecoin’s price. When figures like Elon Musk tweet about the cryptocurrency, prices often surge as new investors rush in. A single tweet or public mention can trigger days of intense buying activity, sending values skyward in remarkably short periods.

The Dogecoin Foundation isn’t resting on its laurels, either. They’re actively developing new technologies like GigaWallet and RadioDoge. These innovations aim to make Dogecoin more practical for everyday payments.

What happens to Bitcoin still matters enormously for Dogecoin. History shows that when Bitcoin booms, Dogecoin often follows—and frequently with even bigger percentage gains. This happens because Dogecoin has a smaller market cap, making it easier for new money to drive significant price increases.

Despite its meme origins, Dogecoin has survived and thrived long enough to secure its place among the top cryptocurrencies. Institutional adoption, even at modest levels, could provide substantial support for higher valuations.

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