Is Dogecoin Warming Up for a 2025 Rally? Analyst Sees Déjà Vu of 2021

A quiet memecoin giant may be preparing to roar again. New signals suggest Dogecoin could be repeating its legendary 2021 breakout setup.

Crypto analyst Joao Wedson has unveiled fresh data-supported insights that hint at a brewing breakout for Dogecoin (DOGE), reminiscent of its dramatic surge in 2021.

In a recent tweet where he outlined four pivotal indicators, Wedson dubbed DOGE the “king of memecoins” and pointed to several underlying metrics suggesting momentum is building behind the scenes.

Liquidity Buildup Mirrors 2021 Structure

The first and perhaps most significant signal stems from aggregated liquidation data. Utilizing Alphractal’s 500-day heatmap, Wedson notes that approximately $380 million in short-side liquidity is concentrated around the $0.50 price zone. Historically, such clustering has marked accumulation phases, which have often preceded explosive DOGE moves to the upside.

DOGE/BTC Nearing Critical Long-Term Support

Wedson also brings attention to the DOGE/BTC pair, which is inching closer to a historically significant support line. This particular trendline, which supported the asset just before its 2021 parabolic run, is once again being tested.

“The DOGE/BTC pair is nearing a critical support — very similar to the setup before the 2021 rally,” Wedson explained, reinforcing his thesis with a chart highlighting repeated bounces off this long-term trend.

Meme Index Signals Early Recovery

The broader memecoin space may also be aligning for a reversal. The Meme Index — a tracker monitoring the top 16 memecoins — is reportedly flashing early recovery signals after months of decline. Despite this, market conditions remain largely underheated. Current open interest is around $3.2 billion, and daily trading volume sits at $12 billion — both lower than typical for the start of a major rally, potentially signaling latent volatility ahead.

Larger Market Cap, Quieter Speculation

Wedson further notes a unique divergence: the total memecoin market cap has grown significantly since 2021, yet trader enthusiasm remains tepid. This could set the stage for capital rotation from larger caps to speculative assets like DOGE, particularly if risk-on sentiment returns.

“DOGE and other memecoins could still surprise in 2025,” Wedson concluded, suggesting that what appears calm on the surface may be a prelude to chaos — or glory — in the memecoin market.

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