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In a video analysis published today, the crypto chartist known as Cantonese Cat (@cantonmeow) laid out a multi-time-frame bullish case for Dogecoin, arguing that the asset is entering a third major cycle with technicals aligning for an upside break and multi-dollar targets—provided key resistance levels are cleared. “I’m extremely bullish on Dogecoin. I’m not going to be shy about it,” he said, adding that the current advance looks “a lot healthier than the last cycle.”
Dogecoin Breakout Could Shock Bears
Cantonese Cat frames the landscape first on the monthly chart, where the 20-month moving average has historically toggled from resistance to support at major inflection points. In his view, Dogecoin is now “kind of holding the 20-month moving average and taking a little bit of a stepwise approach on the way up here, forming overall higher highs and higher lows.”
He also notes a quiet re-entry into the Ichimoku Cloud via consolidation rather than a blow-off impulse: “We are currently entering the Ichimoku cloud here very quietly by just going sideways. This is a break in of the cloud and this is bullish as far as I’m concerned.”
Structurally, he characterizes the cycle as a classical base-building sequence. “It looks like a big giant cup with a handle,” he said, emphasizing that the handle retraced to a technically “reasonable” depth. With Fibonacci overlays applied, he observes that the pullback reached the 0.382 retracement—consistent with constructive, mid-cycle digestion—before price resumed trend. More broadly, he argues Dogecoin has been respecting Fibonacci pivots in an orderly, trend-like cadence: “Basically, you’re taking three steps forward, two steps back. This is a very healthy bull trend until proven otherwise.”
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On the weekly timeframe, he points to the confluence of the 20-week simple moving average and the 21-week exponential moving average—the support “band” many crypto traders track—as now acting as a floor rather than a ceiling. “You also broke above the support band resistance over here and flip into support. That’s also not a bearish thing here at all,” he said.
The Ichimoku baseline has, in his words, been defended “at around 20 cents… very, very well for a long time,” while the 20-week average is “curling up,” further reinforcing the view that momentum is tilting higher. He also flags a “double bottom” and a successful back-test of the breakout zone that, taken together, leave him expecting upside resolution: “I think breakout is probably imminent whenever it wants to happen.”
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Cantonese Cat underscores multi-time-frame alignment as a key tell. According to his read, the 20-period moving average has been reclaimed on the daily, two-day, three-day, weekly, and monthly charts. The main near-term caveat is tactical: an “impulsive move” has pushed price “way outside the 12-hour bullish band,” which he believes explains the current pause. He also acknowledges a diagonal resistance line that may be undergoing a back-test, but does not see it as thesis-breaking.
DOGE Price Targets For This Cycle
When pressed by his own audience for destinations, he distinguishes between conditions and targets. He argues that last cycle’s run into a 2.272 logarithmic Fibonacci extension is unlikely to repeat verbatim. This time, he sees the 1.272, 1.414, and 1.618 extensions as more realistic markers—levels he maps to approximately “$1.50, $2.27, and maybe close to $4.”
But he stresses the path-dependency: “Those are going to be the requirement for some of these higher targets to be met” only if Dogecoin can first clear the deep retracement band on this cycle. “We need to break above the 0.786 and the 0.86 this cycle,” he said, adding that “one level at a time, $0.41, $0.54, we need to break above those before we can really try to entertain some of these… greater than the dollar targets.”
As for timing, he is explicit about uncertainty even as he reiterates direction. “All I can tell you is that Doge is probably ready for a big move up over the next few weeks. I don’t know when exactly that’s going to happen, but I am pretty bullish on Doge,” he said. He cautions against forcing precision on the calendar—“I never do any short-dated options… I don’t like to play with 3D chess and to be limited by time”—and instead describes a systematic accumulation strategy that has bought successive higher lows: “The market seems to keep giving me these higher lows to buy Doge at. I’m not going to say no to it.”
The analytic through-line is that this cycle’s ascent is more measured than the last, with trend integrity—higher highs and higher lows, reclaimed moving averages across time frames, and cloud re-entry by drift rather than spike—offering a sturdier base for continuation. Whether that ultimately extends to “$1.50, $2.27, and maybe close to $4” will, in his framework, hinge on Dogecoin defeating the remaining retracement band and converting it to support. Until then, he concludes, the burden of proof remains on the bears: “This is not a bear trend at all.”
At press time, DOGE traded at $0.231.
Featured image created with DALL.E, chart from TradingView.com
