Dogecoin (CRYPTO: DOGE) may be setting up for its next leg higher, according to one crypto analyst.

On X (formerly Twitter), popular analyst "Surf" provided an update on Dogecoin, using the meme coin’s weekly chart to highlight a familiar technical pattern.

The chart spans from 2014 to the present and showcases different falling wedge patterns in DOGE’s price action, each leading to a major breakout.

The first wedge is highlighted in 2016, followed by the 2017 bull run. A second wedge formed between 2018 and 2020, ahead of the monumental rally in 2021.

Now, a third similar formation appears to be nearing completion.

As of the latest weekly candle, DOGE is trading at around $0.22747 and is testing the upper boundary of the wedge.

Historically, whenever similar technical setups in Dogecoin’s chart have occurred, they were followed by parabolic gains.

If this pattern holds, Dogecoin could be setting up for another strong upward trend, especially as the broader market anticipates altcoin momentum in the second half of 2025.

While confirmation is key, the repeated structure within the chart bolsters bullish expectations.

However, the analyst did not provide an indication of how high Dogecoin could go upon a confirmed breakout.

Meanwhile, a growing consensus among other market observers suggests a potential run to the much-anticipated $1 level.

In response to Surf’s update, one commenter stated that "not much work to be done before takeoff." Another X user, Mark, remarked, "$1 is a magnet," to which Surf expressed full agreement.

Meanwhile, some commenters are lamenting the increasingly long wait time for the breakout.

Dogecoin Blast-Off to Near $1

Interestingly, another widely followed analyst, Trader Tardigrade, shared a similarly promising outlook for Dogecoin, based on a three-day chart.

In his analysis, Tardigrade highlighted a potential blast-off to near the $1 level.

His conviction also comes from historical occurrences.

Early in 2024, Dogecoin broke out of a consolidation phase, surging 242.65% from $0.06613 in November 2023 to reach $0.2266 by March 2024.

The price later retraced to the $0.08 level by August 2024, forming a six-month-long consolidation.

However, another breakout followed, this time even more powerful. From a low of $0.08083, DOGE surged approximately 500% to hit $0.4835 in December 2024.

Since that swing high, Dogecoin dropped to a low of $0.1315 in April 2025. Tardigrade’s chart suggests a bottom is now in.

Dogecoin has already recovered significantly from this low and is currently trading at $0.22747.

According to Tardigrade, the rally’s completion could see DOGE surpass its all-time high of $0.73, potentially reaching the long-awaited $1 level.

According to him, Dogecoin is "ready for blast-off," as the launchpad has already been built.

#Dogecoin is ready for blast-off 🚀

The launchpad is built; the next phase is blast-off 🔥$Doge pic.twitter.com/3DHhFh5rxA

— Trader Tardigrade (@TATrader_Alan) May 26, 2025

Akbar Karimzsfeh, a market watcher, expressed a similar sentiment in a separate analysis.

However, he believes Dogecoin’s potential to surpass its previous peak hinges on a successful push above the $0.49 level, the area where DOGE faced resistance in December.

While Karimzsfeh acknowledges that Dogecoin is flashing a mix of explosive patterns, he still urges caution.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.