Is Dogecoin about to break out? Analysts see a 3x bullish move coming.

Cryptocurrency analyst World Of Charts has sparked excitement among Dogecoin investors with a bold statement: this popular meme coin could be set to rise by 300%, repeating a pattern last seen in October 2024. The recent price surge and on-chain trends seem to support the potential for another explosion. Does the October template repeat? On April 13, 2025, World Of Charts shared technical analysis on Dogecoin on X (formerly Twitter), indicating that this asset is reflecting the same breakout structure leading to a 3x increase by the end of 2024. The analyst had previously predicted that move and believes that conditions are once again pointing towards a similar bullish phase. According to their chart analysis, Dogecoin has broken above the long-term downtrend line, which is often seen as an important bullish signal. This pattern also supports the potential for a price increase of over 213%, reinforcing the possibility of a threefold price rise if the current pattern remains intact. Dogecoin price action and market data According to data from CoinGecko, Dogecoin is currently trading at $0.1661, with a 24-hour price range of $0.1616 to $0.1681. Its market capitalization is approximately $24.2 billion, ranking DOGE as the 8th largest cryptocurrency by market cap. In just the past 24 hours, Dogecoin has recorded a trading volume of $886 million.

Notably, DOGE has increased by 8.1% in the past week, reinforcing bullish sentiment and sparking interest from both traders and long-term holders. Elon Musk’s influence is still significant. While the technical indicators paint an optimistic picture, the social sentiment remains a strong driving force behind the price of Dogecoin. The continuous influence of Elon Musk, who frequently expresses his support for DOGE, cannot be overlooked. In a clearly documented example from December 14, 2021, Musk announced that Tesla would accept Dogecoin for certain items, causing the price of DOGE to surge 24% in just one day. Since then, Musk’s influence has spread throughout the crypto space, often triggering speculative bullish trends that far exceed technical expectations.