Dogecoin: Raoul Pal Sees Great Breakthrough Potential – "New Highs Are Awaiting"

In a tweet posted on May 11, Pal shared a DOGE/BTC chart and hinted at a bullish breakout, calling it "a potential large flag pattern" and suggesting that "new highs are on the horizon." While acknowledging the irony, Pal stated, "I still think the most interesting outcome that could happen is DOGE becoming the hardest currency on earth." Technical Analysis: Is a Bullish Flag Forming? The DOGE/BTC chart presented by Pal shows a pattern of long-term consolidation phases followed by explosive surges. According to the image, Dogecoin has formed descending flag patterns before skyrocketing to new highs—first in 2017 and again in early 2021.

Pal emphasized that the current structure is similar to previous setups, indicating that DOGE may be setting the stage for another breakout compared to Bitcoin. Why This Is Important Dogecoin has long been regarded as a meme token, but its resilience through multiple market cycles has made it a peculiar case. With Elon Musk's continuous endorsement, high community engagement, and potential use cases in the future, DOGE remains a wildcard in the broader cryptocurrency market. Raoul Pal's attention to this asset adds credibility to what many still consider a meme coin. If DOGE breaks its flag pattern, as the chart shows, it could see new momentum—and potentially challenge its previous highs against BTC. Final Thoughts In a world full of surprises, Pal's humorous predictions may not be far from reality. While traders and analysts debate the fundamentals, history has shown that market sentiment and pattern recognition can lead to surprising outcomes. Whether DOGE becomes the "hardest currency on earth" or not, it has certainly made a comeback on the radar.