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The improbable $1 price target for Dogecoin has returned to the spotlight after independent crypto analyst Cantonese Cat (@cantonmeow) shared a bold new Ichimoku-based projection on July 3. In a chart posted to X, the analyst outlined a parabolic price trajectory for DOGE using 2-week candles, suggesting that the memecoin could begin an explosive ascent in late 2025, eventually reaching the symbolic one-dollar mark.
The $1 Dogecoin Dream
The projection rests on DOGE’s ability to maintain current bullish structure above the Ichimoku cloud, with a brief retest later this year during liftoff. “DOGE 2-week candles, Ichimoku cloud shown. Why am I buying doge? Because I’m delusional and this is what I’m thinking,” the trader wrote, pairing tongue-in-cheek self-awareness with conviction in a longer-term breakout scenario.
At the time of the chart’s publication, Dogecoin was trading at $0.172, up nearly 14% on the fortnight. The price action shows a clean bounce off the top of the green Ichimoku cloud, suggesting that DOGE is holding bullish structure on a high timeframe, a key technical criterion in Ichimoku trend-following theory.
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The Ichimoku Cloud (Kumo) on the 2-week timeframe, calculated with the traditional 9/26/52/26 settings, shows the Leading Span A (Senkou A) currently above Leading Span B (Senkou B), forming a green cloud—indicative of a bullish trend outlook. DOGE’s price is above the cloud, which acts as dynamic support. This is critical: Ichimoku practitioners consider price above the cloud to be in a bullish regime, especially on higher timeframes.
The analyst’s hand-drawn black curve on the chart begins near $0.17 and initially curves downward, touching the upper boundary of the Kumo in the near future, likely near the $0.15–0.16 zone. This suggests an expected retest of the cloud support, a common setup in trend continuation trades. Rather than projecting a breakdown, the curve depicts this contact as a springboard for a rapid vertical rally.
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Once the price completes its cloud retest, the trajectory steepens dramatically, punching through overhead resistance near $0.29—the approximate flat Kijun-sen level—then continuing past prior 2024 highs. The final stretch of the curve accelerates toward the $1 level sometime in 2026, consistent with the behavior seen in prior memecoin mania phases.
Interestingly, Cantonese Cat’s conviction comes despite several bearish near-term signals. Just two days prior to publishing the chart, the analyst wrote: “DOGE closed the month below the 20-month SMA, with a bearish engulfing candle! I would care if the volume wasn’t so pathetic…” That statement acknowledged structural weakness but dismissed it on the basis of low participation, hinting that sellers lacked conviction.
The same day, the trader disclosed renewed entries into DOGE and Avalanche, stating, “I don’t know if I’m doing it right, but I bought AVAX and DOGE again this morning.”
Broader Context
DOGE’s memetic status makes it particularly susceptible to sentiment shifts, and it remains uncorrelated to fundamentals in the traditional sense. Still, in the 2021 and 2024 bull markets, DOGE served as a proxy for retail risk appetite, often outperforming once attention rotated from majors like Bitcoin and Ethereum.
The green cloud forecast and the rising trajectory into 2026 may reflect not just technical setups, but a broader cyclical expectation: that another wave of liquidity, speculative mania, or cultural relevance could return DOGE to the spotlight. For now, however, the price must hold the cloud before the market can validate this roadmap.
At press time, DOGE traded at $0.1678.
Featured image created with DALL.E, chart from TradingView.com