A crypto analyst has presented a new bull case for Dogecoin (DOGE), sharing a long-term chart setup that he says mirrors the same pattern that led to the meme coin’s explosive rally in 2021. He also pointed to repeating sentiment shifts across market stages, where traders often doubt early moves before chasing prices at higher levels.
Dogecoin Forecasted To Hit $2 Soon
Market analyst Crypto Patel shared a new Dogecoin chart setup on X, projecting a potential rally toward $2 in this cycle. He based his bullish view on historical market patterns, with emphasis on the strong structure seen during Dogecoin’s 2021 bull run.
Related Reading
In that earlier cycle, Dogecoin climbed from a low of about $0.002 in 2020 to a peak above $0.72 in 2021. This move represented a gain of over 26,800%, marking one of the most aggressive rallies in meme coin history. Before reaching that ATH, the chart structure showed two major breakouts followed by successive upward legs marked as stages 3, 4, and 5.
Based on this structure, Crypto Patel argued that Dogecoin’s current setup is closely mirroring the 2021 bull pattern. He noted that the meme coin has already gone through two breakout phases between 2023 and 2024, followed by a retest of key support levels within a broader accumulation zone. After that retest, Dogecoin recorded its next strong upward leg in 2025, labeled stage 3 on the chart.
Since then, the meme coin’s price has been trading within a narrow range inside a descending channel. The chart also shows another retest to the previous accumulation area around the $0.11 level, which the analyst views as a second confirmation of support.
Because of this structure, Crypto Patel believes that the next major move for Dogecoin could be a sharp rally toward $2. From current levels near $0.10, this would represent a potential gain of more than 2,700%.
How Market Psychology Plays Into DOGE’s Run to $2
During his analysis, Crypto Patel also pointed to market sentiment and psychology that could influence price movements and trends ahead of Dogecoin’s potential run to $2. The analyst noted that at lower levels, such as $0.05, many traders would still dismiss Dogecoin as a dead coin.
Related Reading
As the meme coin moves higher toward $0.25, Crypto Patel said some market watchers will still expect a price drop while they wait on the sidelines. Once Dogecoin reaches around $1, the analyst stated that Fear Of Missing Out (FOMO) will automatically return to the market, as investors try to catch gains. Finally, at his projected peak target worker $2, he noted that there will be the same pattern of regret from those who did not enter earlier, just like in past bull cycles.
Featured image from Getty Images, chart from Tradingview.com