$8 Dogecoin? Analyst Says You’ll Regret Sleeping On This Chart

Cantonese Cat’s first livestream in weeks, broadcast on 15 June, devoted an extended segment to Dogecoin’s long-term structure—and the veteran technician was unequivocal about the upside he still sees. In his words, “this is still a cup and this is still a handle,” and if that formation completes he expects the meme-coin to break “anywhere from like $5 to $8.” That target, he added, is anchored by the intersection of a monthly GAN arc and Fibonacci extensions that have governed Dogecoin’s entire post-2020 advance.

Dogecoin Price Could Hit $8

The analyst began by stripping the chart to its monthly timeframe and toggling off short-term clutter. He noted that Dogecoin has already tested the lower boundary of the Ichimoku cloud and, despite failing to “penetrate the monthly cloud” on the first attempt, continues to coil beneath it. “Even if it goes sideways for another month or two,” he said, “it’s going to enter the Ichimoku cloud one way or another—you can either push up like that or you can just go sideways and you get inside the cloud.” Under either scenario, the tenor remains constructive because the price is “forming higher highs and higher lows.”

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Central to his conviction is the 20-month simple moving average, a line he regards as the spine of every major Dogecoin bull cycle. During the manic run of early 2021, price action “rode the 20[-month SMA] up” without once breaking it; when that moving average finally failed, the bear market ensued.

Today, Dogecoin sits on top of the same level. “It looks like we’re able to use that as support,” he argued, and that support zone—currently just below the handle—doubles as what he calls a “buy zone” for long-horizon traders. The analyst himself “was buying more DOGE the last 4-5 days,” he revealed via X.

Cantonese Cat also addressed the coin’s lethargy since April, insisting that the compression is constructive rather than dangerous. He pointed to the fact that Dogecoin is grinding just beneath the 0.5 log-scale retracement of the entire 2021–2022 decline, a behaviour he interprets as “building up some energy.” The longer the coil, the sharper the eventual expansion, he argued, provided the higher-timeframe moving averages remain intact.

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Pressed by viewers about timing, the analyst declined to publish a timetable and reminded his audience that the breakout will almost certainly coincide with a broader alt-season. He did, however, flag the moment price re-enters the Ichimoku cloud as the technical “green light” for acceleration. Once that happens, the measured-move objective from the cup-and-handle and the GAN arc intersection converge in the $5–$8 zone—levels that would represent new all-time highs and deliver returns of roughly 3,000–5,000 percent from current prices.

“Anything that’s closer to the twenty-one moving average is a good area to add,” he concluded, cautioning newcomers not to chase sudden green candles but to accumulate methodically while the chart remains “boring.” The implication is clear: Dogecoin’s dormancy may be the final shakeout before the largest impulse of the cycle, and those ignoring the calm may indeed “regret sleeping on this chart” if—and only if—the structural signals Cantonese Cat tracks fall into place.

At press time, DOGE traded at $0.177.

Featured image created with DALL.E, chart from TradingView.com