As the name implies, the Holodragon is a hologram projected by Pangu, being a massive snake-like Dragon similar to the ones found in East Asian Mythology. In has a blue and white body, light-blue eyes, whiskers under the jaw and Red Orbs covering it's back from neck-to-tail.
The Holodragon will appear a few seconds after Lilac first enters a large arena with Time Gates in the air that are reachable with Dragon Cyclones. After appearing out of the darkness and roars, the Boss Fight will begin with it flying away and preparing to attack.
The Holodragon's weak points are the Red Orbs covering it's body from neck to tail. Each Orb can be destroyed with two Dragon Cyclones or a single Hair Whip. The Orbs are most vulnerable when the Holodragon is flying across the room. The best way to destroy the Red Orbs is to obtain a Dragon Star from a Time Gate to charge Lilac's Hair Whips, enabling to destroy at least three Orbs per Hair Whip. After losing enough Orbs, the Holodragon's eye will start flashing yellow, indicating that its close to being defeated (The numbers of Red Orbs the Player must destroy depends on the Stage Difficulty). After damaging the eye, the Holodragon will be disabled, and Pangu will appear, collapsing on the ground due to being damaged.
- Dragon Beam: The Holodragon charges up and fires a powerful beam that inflicts Stunlock. This attack is avoidable by Dragon Boosting upwards once, or twice if Lilac has a Dragon Star obtained from a Time Gate.
- Dragon Bite: The easiest attack to avoid, the Holodragon traces Lilac's movements before biting the area where she was last standing.
- Dragon Fire Storm: The Holodragon will shoot multiple fireballs from the ceiling, homing in on Lilac's position. Use the Dragon Boost to gain speed in avoiding this attack.
It is recommend to use the Dragon Boost to avoid the Holodragon's Attacks, and not to hit the Red Orbs, for it may leave Lilac vulnerable to the Dragon Beam and Dragon Fire Storm Attacks.
The Holodragon is a Playable Character in the Schmup Stage, in Lilac's Adventure and Classic Modes. Unlike the Boss Fight in Pangu Lagoon, the Holodragon can't take damage in this Stage. However, Lilac is still vulnerable to attack, being a hitbox in this stage.
- Dragon Fire Storm: The Holodragon quickly shoots out a scattershot of fireballs that spread out in three directions. This attack can destroy small gunfire.
- Dragon Beam: Using energy, the Holodragon fires off a huge beam in one direction that destroys anything it touches (except Syntax). It can be used all the time, even when the energy gauge has empty, except the laser will be small, inflicting low damage. Energy recharges quicker when riding the Holodragon.
- Dragon Dash: The Holodragon will quickly rush left or right.