Dogecoin enthusiasts have reason to celebrate—or at least to dream. On July 3, independent crypto analyst Cantonese Cat (@cantonmeow) unveiled a bold prediction that Dogecoin, the original memecoin, could reach the elusive $1 mark. Using an Ichimoku-based chart shared on social media platform X, the analyst outlined a parabolic price trajectory for DOGE, suggesting a potential explosive ascent beginning in late 2025.
A Parabolic Path
According to Cantonese Cat, the key to Dogecoin’s potential ascent lies within its current bullish structure, as it holds above the Ichimoku cloud—a technical indicator used by traders to predict future price movements. The chart, crafted with 2-week candles, suggests a brief retest of this support level later in the year before taking off. “Why am I buying doge? Because I’m delusional and this is what I’m thinking,” the trader quipped, marrying humor with market insight.
At the time of the chart’s release, Dogecoin was trading at $0.172, buoyed by a 14% rise over the previous two weeks. The price had bounced cleanly off the Ichimoku cloud’s upper boundary, reinforcing the bullish sentiment. For Ichimoku practitioners, this alignment is a promising sign, especially on higher timeframes. This optimism is echoed in broader market movements, as seen when Ethereum and Dogecoin soared alongside Bitcoin’s recent price surge.
The Ichimoku Indicator
The Ichimoku Cloud, or Kumo, utilizes traditional 9/26/52/26 settings to create two spans—Leading Span A and Leading Span B. Currently, Span A sits above Span B, forming a green cloud indicative of bullish potential. When a price stays above this cloud, it often signals a continuation of the upward trend.
Cantonese Cat’s hand-drawn chart adds another narrative layer: a black curve starting near $0.17, dipping slightly to the $0.15–0.16 range, and then soaring past resistance levels near $0.29. This projection suggests that after a cloud retest, DOGE might embark on a rapid rise. If history repeats itself, as it did during previous memecoin manias, Dogecoin could indeed flirt with the $1 threshold by 2026.
Riding the Waves of Sentiment
Of course, the journey is fraught with challenges. Despite the optimistic outlook, Cantonese Cat acknowledges bearish signals—DOGE recently closed the month below the 20-month SMA with a bearish engulfing candle. Yet, the analyst dismisses these concerns due to low trading volumes, suggesting that sellers lack conviction. This sentiment was echoed in a recent tweet: “I don’t know if I’m doing it right, but I bought AVAX and DOGE again this morning.”
Dogecoin’s status as a meme token means it doesn’t follow traditional fundamentals. Instead, it’s highly susceptible to sentiment shifts. In past bull markets, DOGE has acted as a bellwether for retail risk appetite, often outperforming major cryptocurrencies like Bitcoin and Ethereum when retail traders turn speculative. This trend is also reflected in the growing interest in crypto ETFs, as discussed in our analysis of potential ETF impacts on Dogecoin and other altcoins.
Looking Ahead
As of today, DOGE is trading at $0.1678. While the path to $1 is fraught with uncertainty, the roadmap laid out by Cantonese Cat offers a tantalizing glimpse into a possible future. But for now, the price must hold above the cloud to validate this projection. Whether driven by another wave of liquidity, speculative frenzy, or sheer cultural relevance, Dogecoin’s journey will be anything but boring.
The crypto world will be watching closely. Will DOGE defy the odds yet again? Only time will tell.
Source
This article is based on: The $1 Dogecoin Dream Is Alive: Chartist Lays Out Parabolic Scenario
Further Reading
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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.
