A crypto market commentator behind the High Altitude Investing YouTube channel says Dogecoin may be setting up for a sharp upside move, pointing to a mix of short-term technical signals and a longer-term chart pattern he argues resembles earlier breakout structures seen in Bitcoin and XRP.
In a video from April 17, the analyst framed the meme coinโs current setup as both a near-term trading opportunity and a broader cycle call, arguing that Dogecoinโs correction may be complete and that the asset could ultimately target levels above $2, with a more aggressive long-range scenario reaching $3 to $5.
Why Dogecoin Could Soon Go Vertical
The short-term case rests on classic technical analysis. On the daily chart, the analyst said Dogecoin has completed a โperfect ABC correction,โ with wave A, wave B and wave C now in place. He paired that with what he described as bullish divergence on the MACD, calling the combination โa very strong buy signal for this coinโ that โshould lead to a nice move in the shorter timeframes in the near future here for Dogecoin.โ
He also pointed to a breakout on the 45-minute chart, where Dogecoin had been trading inside a triangle pattern before moving higher. โWe broke bullish out of this triangle,โ he said. โSo thatโs a super super good signal on the 45-minute timeframe for us to start to climb up here in the shorter timeframe and for us to start to see bullishness in a significant way for Dogecoin.โ
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The larger thesis, though, comes from the higher timeframes. Looking at 10-day candles, the analyst argued Dogecoin is now deeply oversold on the MACD, a condition he compared to a previous low that preceded a sizable rally. In his view, the present setup suggests the coin is positioned for a move back into higher resistance zones.
From there, the video shifts into a broader fractal argument. The analyst said Dogecoin is tracing โthe exact same pattern that Bitcoin followed before Bitcoin pumped and went vertical in 2021,โ describing a sequence of an initial surge, a steep correction, a second rally and another pullback before a much larger move. He extended the comparison to XRP as well, arguing the token followed โthe exact same fractalโ before its 2024 advance.
โSo not only Dogecoin, but Bitcoin and XRP have all done the same exact pattern before,โ he said. โSo this is a common pattern in crypto and I am expecting a big bullish move on Dogecoin based on this pattern.โ
That framework feeds directly into his price targets. Using Fibonacci extensions and comparing Dogecoinโs structure with Bitcoinโs prior cycle, the analyst said Dogecoin โcould easily go up towards the 3.618,โ which he placed at more than $2 per coin.
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He then sketched out a more ambitious path if the trend persists over time. โIf it continues to grow over the long term, Dogecoin could even go up to these higher extensions like the 5.618 or the 6.618 here in the bigger picture,โ he said.
Later in the video, he made the range even more explicit: โImagine when this thing hits $3, $5, however high it goes in the big picture, itโs going to blow people away.โ
A key part of his argument is that Dogecoinโs scale and liquidity reduce the odds of it being sidelined during a broader market expansion. He noted that Dogecoin was โnumber eight in volume over the past 30 daysโ on CoinMarketCap, and said its trading activity has remained consistently high relative to the rest of the market.
The video ultimately makes a macro bet as much as a Dogecoin-specific one. The analyst repeatedly argues that crypto remains in a long-term growth phase and that traders focusing too narrowly on week-to-week headlines may be missing a larger move. Whether Dogecoin follows the path he outlined will depend on that wider market backdrop holding up, but his thesis is clear: if cryptoโs next leg higher materializes, he does not expect Dogecoin to be left behind.
At press time, DOGE traded at $0.10.
Featured image created with DALL.E, chart from TradingView.com
