Dogecoin price is showing signs of a potential 500% rally in the coming months, according to a fresh technical analysis.

Analyst Predicts 500% Rally For Dogecoin Price

A pseudonymous TradingView analyst, known as GreenCrypto, has identified a strong Ascending Wedge pattern forming in the weekly chart of Dogecoin, highlighting a long-term upward trend since 2023. The pattern's trajectory suggests a continuation to the upside, potentially driving Dogecoin to a new all-time high of $1.161, which would mark a staggering gain of over 582%.

The chart also shows interesting symmetry, with previous bullish waves following similar trajectories. Currently, price action shows Dogecoin bouncing off higher lows around the key support area at the $0.11 mark. With increasing market interest in the meme coin, the next wave could mirror past performance, potentially breaking through the psychological resistance at $1.

While maintaining an overall positive outlook for the DOGE price, GreenCrypto has also highlighted a red area, which indicates a potential decline zone. Based on the chart, $0.177 acts as a critical support area for Dogecoin, which, if it fails to hold above, its price could see further breakdown.

However, despite this bearish possibility, the analyst has shared a relatively favorable risk-to-reward ratio, placing a stop loss at $0.1143. GreenCrypto has also marked $0.176 as a bullish entry point for traders interested in capitalizing on the projected price breakout.

If Dogecoin's momentum continues, the analyst has outlined several take-profit levels that traders can target to maximize gains. These levels include $0.22086, $0.30439, $0.40104, and $0.53436, with a final projected peak at $1.13587—representing a potential gain of over 500% based on current levels.

DOGE Price Pump To Signal Altcoin Season

Meanwhile, another crypto expert, Cas Abbé, is tying Dogecoin's price movements to the concept of altcoin season. According to Abbé, the meme coin's price movements typically act as a leading indicator for the altcoin season.

The analyst highlights how Dogecoin's 300% pump in late 2024 was a precursor to a mini-altcoin season that saw numerous cryptocurrencies, excluding Bitcoin, post double and triple-digit gains. To support his theory, Abbé has provided a visual analysis connecting Dogecoin's price action with the broader altcoin season using two parallel charts.

The first chart, labeled as TOTAL2, represents the total crypto market capitalization, excluding Bitcoin. The second chart shows Dogecoin's movements from August 2024 to May 2025, with two Ascending Channels labeled as "altcoin season brewing." Currently, DOGE is trading in one of these bullish Ascending Channels.

Abbé is now eyeing a breakout above the key $0.22 resistance level as a trigger for the next major rally that could signal the start of the highly anticipated altcoin season.