The price campaign of Dogecoin has in the last 24 hours reflected the turbulence sweep over the wider cryptoma market. The Meme coin suffered a severe decline On February 3, which was triggered by several cryptocurrencies in the course of the market and was triggered by several cryptocurrencies in the course of the market. Dogecoin itself was not sparedwith a considerable number of dealers who are exposed to liquidations.
However, Despite the short -term painThe crypto analyst ðogenecapital (@dimapotts36) suggests that this downturn was part of a much larger setup that could catapult the Dogecoin to a new peak between $ 1.50 and $ 2.10.
Dogecoin Price Crash match historical trends
Ðogen capital The latest analysis shows This recent crash of Dogecoin was expected as part of the wider market cycle of the financial value. The analyst shared knowledge that indicates the historical price behavior and have drawn comparisons with the former bullish cycles from Dogecoin. On November 24, 2024, the analyst described the expectations for a significant correction and refers how the price had previously traced in an earlier cycle the Fibonacci level of 78.6%.
At that time, Dogecoin rose to this important Fibonacci level before experiencing a sharp sweater of -56%, which later made room for a massive rally. The analyst had emphasized that this pattern could be repeated and warned that investors should expect considerable corrections on the way to new heights. If Doge is now subjected to a similar collection, ðogenCapital believes that the conditions for the next leg of the rally are align.
The price -rebound could increase the price from $ 1.50 and beyond
After the expected retreat, which reached a floor of $ 0.2237 in the last 24 hours, the analyst stated Prepare now on A possible thrust to new heights. In his most recent statement, he confirmed his trust that the asset will soon resume up his upward railway.
As soon as the withdrawal is over, Dogecoin could resume his upward railway and start trading above the multi -year level of resistance. In this case, the analyst found that this could push the Meme coin in the direction of a highlight of at least 1.5 USD or an upper end of $ 2.10. These goals are based on the Fibonacci extension level from the 2022 -bear market.
From now on Doge Is in his third cycle And could be on the way to repeat the result of the second cycle. Remarkably, the price proposals do not stop here, since the Fibonacci expansion analysis shows that Dogecoin can even achieve up to $ 3.94 in this cycle.
Despite the surrounding the bear The latest price drop, the analysis of ðogenecapital, offers an optimistic outlook. At the time of the letter, Doge is $ 0.2636, which has increased by about 6.3% in the past 24 hours. However, it remains by about 21.3% in a seven -day period after the support has lost $ 0.31. The first step in reaching $ 1.5 is that the Dogecoin bulls regain this support at 0.31 USD and then break the resistance at 0.5 USD before finally over the current all-time high of $ 0.73.
Selected picture of Adobe Stock, diagram of tradingview.com