DOGE Poised for 500% Rally as Historical Trends Align – Momentum Builds Post-DogeDay Celebrations

Dogecoin (DOGE) shows potential for a significant upward breakout, with technical analysis indicating a possible 500% surge based on historical price patterns. The meme cryptocurrency continues to ride bullish sentiment following its annual DogeDay event, attracting renewed trader interest and market speculation.

Although the daily chart is largely bearish, crypto analyst @Steph_iscrypto believes Doge price is gearing up for a major breakout, based on a historical pattern that played out during a previous market cycle.

According to Steph, Doge had ridden a 129-day downtrend before skyrocketing over 500%, rallying from around $0.08 to more than $0.40. He says that a similar setup is forming now, with DOGE once again having declined steadily for 129 days. On the chart, both downtrends are marked as “43 bars, 129d,” representing 43 daily candles over the same duration.

Steph essentially suggests that if history repeats, the current consolidation range could serve as launchpad for the next major rally. “Bottom signal flashing,” he wrote in 19 April X post.

Meanwhile, Dogecoin is drawing institutional attention as the U.S. Securities and Exchange Commission evaluates several exchange-traded fund applications tracking DOGE price. ​These include filings from Bitwise, Grayscale, 21Shares, and Rex Shares (in partnership with Osprey Funds). The approval of these ETFs could act as a major catalyst, potentially driving 500% surge @Steph_iscrypto has projected for the memecoin.