Dogecoin (DOGE) rebounded from a multi-month low of $0.22, reached on August 12, 2025, after a market-wide sell-off last week. Crypto analyst Trader Tardigrade believes this low could mark the cycle bottom for Dogecoin, predicting a potential price surge to $2.
The analyst highlighted a key trendline on a weekly timeframe chart, indicating that the $0.22 level acted as support for Dogecoin's price movements throughout 2024. With the recent bounce, the trendline has seemingly flipped into a strong support zone.
Trader Tardigrade also noted a recurring pattern in Dogecoin's price action, where significant pullbacks of over 50% after strong rallies have always been followed by strong rebounds. Based on this historical behavior, the analyst anticipates another strong rebound from the recent correction.
Dogecoin's last rebound, following a similar pullback, resulted in a 23,000% increase to its current all-time high of $0.73. From this point, Trader Tardigrade predicts a similar playout, leading to a price target of $2.
Other analysts, like Dima Potts, have also predicted a similar price target for Dogecoin, with a range of $1.50 to $2.10. For a bullish outlook to materialize, Dogecoin needs to break above $0.3.