$8 Dogecoin? Analyst Says You’ll Regret Sleeping On This Chart

The first live streaming of the Cantonese cat in weeks, broadcast on June 15, dedicated a segment extended to the long-term structure of Dogecoin-and the veteran coach was unequivocal regarding the positive side he still sees. In his words, “this is still a cup and this is still a handle” and if that complete formation, it expects that the meme Coin breaks “everywhere from $ 5 to $ 8”. This goal, he added, is anchored by the intersection of a monthly gan and fibonacci extensions that ruled the entire Post-2020 anticipation of Dogecoin.

Dogecoin price could hit $ 8

The analyst started by stripping the graphic designer at his monthly period and pushing the disorder in the short term. He observed that Dogecoin has already tested the lower limit of the Ichimoku cloud and, despite not having “penetrated the monthly cloud” to the first attempt, continues to bob it under it. “Even if it goes to the side for another month or two,” he said, “he will enter the ICHIMOKU cloud in one way or another, you can push that way or you can simply go to the side and enter the cloud.” In both scenarios, the tenor remains constructive because the price “higher and low form shapes”.

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At the center of its belief is the simple mobile average of 20 months, a line that considers the backbone of each important cycle of dogecoin bulls. During the obsessive race of the beginning of 2021, the price “led 20[-month SMA] On “without breaking once; when the average mobile one finally failed, the bears market followed.

Today Dogecoin is above the same level. “It seems that we are able to use it as a support,” he claimed, and that support area, just under the handle, like what he calls a “purchase area” for the Traders for a long time. The same analyst “was buying more doge in the last 4-5 days,” he revealed through X.

The Cantonese cat also turned to the lethargy of coin since April, insisting on the fact that compression is constructive rather than dangerous. He underlined the fact that Dogecoin is grinding precisely under the retracement of a trunks of 0.5 of the entire 2021-2022 decline, a behavior he interprets as “building a little energy”. Furthermore, the more clear coil, the possible expansion, supported, provided intact the highest time mobile mediums.

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Pressed by the spectators on the times, the analyst refused to publish a calendar and reminded his audience that the breakout almost certainly coincides with a wider season of alt. However, he reported the moment when the price falls within the Ichimoku cloud as “green light” technique for acceleration. Once this happens, the measured-Mrove lens from the cup and handle intersection and the Gan arch converges in the $ 5– $ 8 area, levels that would represent new maximums of all time and would deliver returns of about 3,000-5.000 percent from current prices.

“Everything that is closest to the average on the move of twenty -one is a good area to be added,” he concluded, warning the new arrivals not to chase sudden green candles but to accumulate methodically while the graph remains “boring”. The implication is clear: Dogecoin’s dormancy can be the final shakeout before the largest impulse in the cycle and those who ignore calm can truly “regret to sleep in this ranking” if – and only if – the structural signals put the traces of Cantonese cats in place.

At the time of the press, Doge exchanged $ 0.177.

First floor image created with Dall.e, graphic designer by tradingview.com