While the coin still lags far behind its all-time high near $0.70, some chart watchers see echoes of the past forming again—specifically, a setup strikingly similar to the one that came just before DOGE’s legendary rally in late 2020.
According to crypto analyst CryptoKaleo, the current price action mirrors the pre-explosion pattern from nearly five years ago, when Dogecoin was in a prolonged downtrend before flipping into an unstoppable climb—one that ultimately saw a 36,000% gain.
That previous move was largely fueled by Elon Musk’s tweets and the sudden rise of meme coin mania.
Now, after another prolonged pullback, DOGE appears to be forming a new bottom, which some interpret as a prelude to another bullish breakout.
If the pattern holds, the analyst suggests the meme coin could rally toward $1 and potentially overshoot as high as $2.40 in a full bullish extension.
Can History Repeat Itself?
While excitement is building, a repeat of the 36,000% run seems far-fetched. Hitting $72 per coin—the equivalent move from today’s levels—would push Dogecoin’s market cap over $2 trillion, a feat considered implausible given its inflationary supply model.
Still, the $1 milestone remains within the realm of possibility, especially if retail hype returns and meme coin momentum picks up alongside Bitcoin’s broader uptrend. But if history is any guide, Dogecoin rallies big—and crashes hard—so caution remains key.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/market/dogecoin-flashes-familiar-signal-last-seen-before-historic-surge/