Dogecoin enthusiasts are abuzz with anticipation as a prominent crypto analyst suggests a massive rally could be on the horizon for the meme-based cryptocurrency. In a detailed video analysis released today, the analyst known as Cantonese Cat (@cantonmeow) outlined a compelling bullish scenario for Dogecoin, predicting that the digital asset could soar to unprecedented heights if certain technical conditions are met.
A Third Major Cycle?
Cantonese Cat, a well-known figure in the crypto analysis community, believes Dogecoin is entering its third significant cycle. He bases this outlook on a multi-time-frame analysis, pointing to a series of technical indicators that signal a potential upside breakout. “I’m extremely bullish on Dogecoin. I’m not going to be shy about it,” he declared, noting that the current upward momentum appears “a lot healthier than the last cycle.”
One of the key elements underpinning his bullish thesis is the behavior of Dogecoin around the 20-month moving average. Historically, this metric has oscillated between acting as resistance and support at critical turning points. Cantonese Cat observes that Dogecoin is currently “holding the 20-month moving average” and is progressing in a “stepwise approach,” characterized by a pattern of overall higher highs and higher lows. This pattern, he argues, reflects a classical base-building phase, akin to a “big giant cup with a handle.”
Breaking Through the Clouds
In addition to the moving averages, Cantonese Cat highlights Dogecoin’s quiet consolidation into the Ichimoku Cloud—a technical indicator used to gauge momentum and trend direction—rather than a dramatic surge. “We are currently entering the Ichimoku cloud here very quietly by just going sideways. This is bullish as far as I’m concerned,” he explained.
Structurally, he suggests that Dogecoin’s price movements are adhering to Fibonacci retracement levels, with a pullback reaching the 0.382 mark. This, in his view, indicates a healthy mid-cycle digestion, reinforcing the overall bullish trend. According to Cantonese Cat, Dogecoin is taking “three steps forward, two steps back,” a cadence he describes as a very healthy bull trend “until proven otherwise.”
Weekly Insights and Convergence
On the weekly chart, Cantonese Cat notes a convergence of the 20-week simple moving average and the 21-week exponential moving average, forming a support “band” that has shifted from resistance to support. “That’s also not a bearish thing here at all,” he remarked. The Ichimoku baseline has been robustly defended “at around 20 cents,” and with the 20-week average “curling up,” momentum appears to be gaining strength.
Moreover, Dogecoin is exhibiting a “double bottom” pattern, coupled with a successful back-test of the breakout zone, both of which suggest an imminent upside move. “I think breakout is probably imminent whenever it wants to happen,” Cantonese Cat predicted.
Potential Targets and Caveats
When pressed for price targets, Cantonese Cat urged a cautious approach, differentiating between conditions and targets. While he does not expect a repeat of the last cycle’s explosive run to a 2.272 Fibonacci extension, he views levels like the 1.272, 1.414, and 1.618 extensions as more attainable, corresponding to approximately “$1.50, $2.27, and maybe close to $4.”
However, he emphasizes that these targets are contingent upon Dogecoin clearing significant resistance levels, particularly the 0.786 and 0.86 retracement bands. “We need to break above $0.41, $0.54 before we can really try to entertain some of these… greater than the dollar targets,” he stressed.
Timing and Strategy
As for timing, Cantonese Cat is less specific, expressing confidence in Dogecoin’s potential for a substantial move in the upcoming weeks but refraining from providing precise dates. “All I can tell you is that Doge is probably ready for a big move up over the next few weeks,” he stated. He advises against short-term trading strategies, preferring a systematic accumulation approach that capitalizes on buying at successive higher lows.
The Road Ahead
Cantonese Cat concludes that this cycle’s ascent is more measured than the previous one, with the integrity of the trend—characterized by higher highs and lows, reclaimed moving averages across time frames, and a gradual re-entry into the Ichimoku Cloud—providing a stronger foundation for continuation. Whether Dogecoin can ultimately reach targets of “$1.50, $2.27, and maybe close to $4” will depend on its ability to overcome the remaining resistance and convert it into support, he argues.
At the moment, Dogecoin is trading at $0.231, leaving the market to watch closely for any signs of the anticipated breakout. For now, the burden of proof lies with the bears, as Cantonese Cat asserts, “This is not a bear trend at all.”
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
