A crypto market commentator behind the High Altitude Investing YouTube channel says Dogecoin may be preparing for a sharp upward move, pointing to a mix of short-term technical signals and a longer-term chart pattern that he says resembles previous breakout structures seen in Bitcoin and XRP.
In one video as of April 17, the analyst has framed the meme coin’s current setup as both a short-term trading opportunity and a broader cycle call, arguing that Dogecoin’s correction could be complete and the asset could eventually reach levels above $2, with a more aggressive long-term scenario of $3 to $5.
Why Dogecoin May Go Vertical Soon
The short-term case relies on classical technical analysis. On the daily chart, the analyst said Dogecoin has completed a “perfect ABC correction,” with wave A, wave B and wave C now in place. He combined that with what he described as bullish divergence on the MACD, calling the combination “a very strong buy signal for this coin” that “should lead to a nice move on the shorter time frames here for Dogecoin.”
He also pointed out a breakout on the 45-minute chart, where Dogecoin traded within a triangle pattern before moving higher. “We came out of this triangle bullish,” he said. “So that’s a super super good signal in the 45 minute time frame so that we can move up here in the shorter time frame and we’re going to see bullishness for Dogecoin in a significant way.”
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However, the bigger thesis comes from the higher time frames. Looking at the 10-day candles, the analyst argued that Dogecoin is now deeply oversold on the MACD, a condition he compared to an earlier low that preceded a significant rally. According to him, the current setup suggests that the coin is positioned for a return to higher resistance zones.
From there, the video shifts to a broader fractal argument. The analyst said Dogecoin “follows the exact same pattern that Bitcoin followed before Bitcoin surged and went vertical in 2021,” describing a sequence of an initial rise, a steep correction, a second rally and another pullback before a much bigger move. He also extended the comparison to XRP, arguing that the token followed “the exact same fractal” before its rise in 2024.
“So not just Dogecoin, but Bitcoin and XRP have all followed the same pattern before,” he said. “So this is a common pattern in crypto and I expect a big bullish move on Dogecoin based on this pattern.”
That framework directly impacts its price targets. Using Fibonacci extensions and comparing Dogecoin’s structure to Bitcoin’s previous cycle, the analyst said Dogecoin “could easily rise towards 3,618,” which he estimated at more than $2 per coin.
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He then outlined a more ambitious path if the trend were to continue over time. “If it continues to grow in the long term, Dogecoin could even go to higher extensions, like the 5,618 or the 6,618 here in the bigger picture,” he said.
Later in the video, he made the reach even more explicit: “Imagine when this thing hits $3, $5, however high it goes in the grand scheme of things, it’s going to blow people away.”
A key part of his argument is that Dogecoin’s size and liquidity reduce the chance of Dogecoin being sidelined during a broader market expansion. He noted that Dogecoin “has been number eight by volume over the past 30 days” on CoinMarketCap, and said trading activity has remained consistently high compared to the rest of the market.
The video ultimately makes as much of a macro bet as it does a Dogecoin-specific bet. The analyst repeatedly argues that crypto is in a long-term growth phase and that traders who focus too closely on the weekly headlines may be missing a bigger move. Whether Dogecoin will follow the path he outlines will depend on whether the broader market backdrop holds up, but his thesis is clear: if crypto’s next step becomes a reality, he doesn’t expect Dogecoin to be left behind.
At the time of writing, DOGE was trading at $0.10.
Featured image created with DALL.E, chart from TradingView.com