Dogecoin: Raoul Pal Sees Big Breakout Potential – “New Highs Await”

In a tweet posted on May 11, Pal shared a chart of DOGE/BTC and hinted at a bullish breakout, calling it “a potential big flag pattern” and suggesting that “new highs await.”While acknowledging the irony, Pal stated:“I still think the most amusing outcome possible would be for DOGE to be the hardest currency on earth.”Technical Analysis: Bullish Flag in Formation?The DOGE/BTC chart presented by Pal showcases a pattern of long-term consolidation phases followed by explosive breakouts. According to the image, Dogecoin has historically formed descending flag patterns before surging to new highs—first in 2017, and again in early 2021.Pal highlights that the current structure resembles previous setups, suggesting that DOGE might be setting the stage for yet another breakout relative to Bitcoin. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: 4 Reasons Why an Official U.S.-China Trade Deal Could Be Great for the Crypto Market Why This MattersDogecoin has long been seen as a meme token, but its resilience through multiple market cycles has made it a curious case. With Elon Musk’s continued endorsement, high community engagement, and potential use cases on the horizon, DOGE remains a wildcard in the broader crypto market.Raoul Pal’s attention to the asset adds a layer of credibility to what many still consider a joke coin. If DOGE breaks out of its flag pattern, as the chart suggests, it could see renewed momentum—and potentially challenge its previous highs against BTC.Final ThoughtsIn a world full of surprises, Pal’s tongue-in-cheek prediction might not be far from reality. While traders and analysts debate fundamentals, history has shown that market sentiment and pattern recognition can drive surprising outcomes. Whether or not DOGE becomes the “hardest currency on earth,” it’s certainly back on the radar.The post Dogecoin: Raoul Pal Sees Big Breakout Potential – “New Highs Await” appeared first on Coindoo.