Elon Musk Ghibli Anime Boosts DOGE Price by 14% — Cup-and-Handle Pattern Signals an $8 Long-Term Surge

Dogecoin recently gained attention in the crypto space, achieving a notable 14% weekly increase and pushing it beyond the $0.20 price point. Dogecoin price prediction anticipates a potential breakout, driven by robust technical signals and growing investor interest. The SuperTrend indicator identifies $0.21 as a crucial resistance level, so breaching this level DOGE price might initiate a massive rally, potentially reaching $2. Consequently, Dogecoin’s total valuation has approached $30 billion while market activity surpassed $2 billion, indicating bullish sentiment.

Elon Musk, a long-time supporter of the memecoin, recently helped renew market excitement. His post on X showed a Ghibli-inspired parody of “The Lion King.” The post depicted a character lifting the Shiba Inu, the mascot associated with Dogecoin. Such lighthearted references from Musk have previously affected Dogecoin price trajectory significantly. Consequently, traders now speculate whether his action could cause another major price rally.

Elon Musk’s Ghibli Anime Post Adds to the Hype

Elon Musk’s impact on Dogecoin is widely recognized, and his most recent post has again generated excitement within the DOGE community. The post is a Ghibli-style parody referencing a scene from “The Lion King.” It shows a character raising a Shiba Inu.

Theme of the day pic.twitter.com/2ioG0StAxL

— Elon Musk (@elonmusk) March 26, 2025

Studio Ghibli’s animations have growing mainstream appeal, adding significance to the Elon Musk Dogecoin reference. Historically, similar posts from Musk have prompted rapid price jumps for DOGE. Consequently, the latest post might serve as an additional catalyst for potential price appreciation.

The Cup-and-Handle Formation Signals a Breakout

Technical experts are carefully monitoring a cup-and-handle formation developing on Dogecoin’s price chart. This pattern is considered a classic bullish signal. Analyst CryptoELITES noted that DOGE approaches the completion of this pattern, which might indicate a strong breakout is likely to occur soon. If the price remains consistently above $0.20, Dogecoin price prediction suggests a rapid move toward $2 is possible. Such movement would represent an almost tenfold increase compared to DOGE price today.

Additionally, data from Coinglass reveals that DOGE futures open interest increased by 4 percent, surpassing the two billion dollar mark. Such growth in futures interest implies traders are preparing for a possible price upswing ahead. Moreover, recent daily liquidations reached $13.82 million, showing an unpredictable yet active market where bullish momentum appears to be building steadily.

SuperTrend Indicator Points to Bullish Momentum

The SuperTrend indicator, used to identify trend shifts and potential breakout prices, has gained importance regarding Dogecoin’s path forward. Analyst Ali Martinez stressed that maintaining momentum above the $0.21 resistance is essential. This would confirm a bullish phase for the memecoin. History shows that overcoming similar key thresholds often results in lasting DOGE price gains.

The SuperTrend indicator suggests that #Dogecoin $DOGE could enter a bullish phase upon breaking the $0.21 resistance level. pic.twitter.com/5AcHM00mzS

— Ali (@ali_charts) March 26, 2025

Because Dogecoin’s total transactions jumped more than 32% recently, market optimism seems stronger. Many investors await signs that a breakout has truly occurred, as it could prepare the ground for further price surge. If the memecoin manages to stabilize above $0.21, market participants expect a potential long-term rally that might even push prices towards $8 in an extended bull run scenario.

Will Dogecoin Break Through to New Highs?

Recent price movements and technical signals for Dogecoin indicate a significant breakout might happen soon. The SuperTrend indicator suggests bullish momentum while the cup-and-handle pattern approaches completion. Analysts remain optimistic about Dogecoin’s possible climb approaching the $2 mark. Increased market activity and growing futures interest provide additional support for a sustained uptrend.

The Elon Musk Dogecoin engagement adds further enthusiasm. While Dogecoin remains volatile, traders carefully monitor the crucial $0.21 resistance. If DOGE breaks above this price point, it might signal the start of a major rally. Such a potential upswing could eventually lead DOGE toward a new all-time high in the upcoming months.