On Chain Data Reveals Dogecoin Price Can Surge to $1 If These Catalysts Align

On the weekly time frame, Dogecoin (DOGE) price consolidates inside a 50-week Adam and Eve bullish chart pattern. The 25% monthly gains could extend and push DOGE more than 500% if it successfully breaks out of the said pattern. If a specific set of events occurs within the next few weeks, it could potentially inflate the value of this dog-themed meme coin sixfold, from its current price of $0.225 to record highs.

Dogecoin Price Coils Up Inside a Weekly Bullish Pattern

In the past 50 months, Dogecoin price action has created a rounded bottom and sharp V-shaped reversal, leading to the formation of an Adam and Eve setup, as noted in a previous CoinGape article. As an update to this Dogecoin prediction, if certain scenarios unfold in the next few weeks, investors could capitalize on a 500% move.

The rounded bottom, termed ‘Eve’, formed between May 21, 2021, and December 2024. This followed ‘Adam,’ a sharp V-shaped reversal that remains in effect. The completion of the Adam & Eve setup will occur when Dogecoin price manages to flip the $0.440 to $0.569 zone into a support level. This level is the ‘neckline’ and connects the peaks of Adam and Eve. The $1.088 target for this bullish setup is obtained by adding the 90% depth of Eve to the breakout point at $0.569.

Key Catalysts That Could Propel DOGE by 500%

Revisit of Key Support Level: To complete the Adam & Eve pattern, DOGE would need to rally 155% from the current price to reach the neckline at $0.568. Beyond this, theoretical forecasting methods suggest another 90% move to reach $1.088. However, the crypto market outlook remains shaky due to concerns about a Bitcoin price crash. So the correct sequence of events that would result in a 500% gain for Dogecoin (DOGE) is:

1. A 20% correction in Dogecoin from the current price of $0.225 to a critical support level at $0.179.
2. A spike in demand at this level, leading to a base formation, followed by a rally from here.

If these events occur, the potential gain for Dogecoin price is more than 500% if it completes the Adam & Eve pattern and hits the theoretical target of $1.088.

Spot Dogecoin ETF Approval: Latest data from Polymarket shows 68% odds of a DOGE ETF approval in 2025. Even though SEC recently delayed Dogecoin spot ETF approval, the odds are only rising. Even ETH and BTC spot ETF were denied twice before final approval.

Whale Accumulation: On-chain data provider Santiment reveals that whales have purchased 3.42 billion DOGE since January 2025. At the current price, this stack is worth $766 million. This cohort is known for buying the dip and selling during rallies. Their 1.86 billion DOGE buying spree between August and October 2024 was followed by profit-taking after Dogecoin price rallied more than 400% in the fourth quarter of 2024.

To summarize, the outlook for Dogecoin price looks massively bullish in the short to mid-term timeframe, with a 500% rally potential. However, for a long-term price prediction 2025-2023: Read This