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Don’t Be Surprised If Dogecoin Hits $1 Or $2 ‘In A Hurry’, Says Crypto Analyst
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$DOGE This time, however, Dogecoin appears to be sustaining price action above the 0.786 log Fibonacci level without a deeper correction. According to Cantonese Cat, “So far we’re above the 0.786. That’s insane. It looks like it just wants to keep going up higher forming a very nice bull flag.” Reflecting on weekly Ichimoku Cloud signals and higher time frame indicators, the analyst emphasized that multiple technical factors appear aligned for further bullish momentum. “If you’re also just looking at like the weekly Ichimoku [Cloud], we broke through that convincingly,” he explained. Referencing the monthly chart, he added, “We broke through the monthly Cloud very convincingly and over here, for January 2021, we just broke through it in one stroke. Over here [last month] we broke through it in November, hit the 0.786 fib level here, got rejected and we broke through [the 0.786 in the first days of December].” The analyst also pointed out that, unlike the previous cycle, Dogecoin is not exhibiting a significant retrace before attempting higher levels: “It doesn’t even really want to have a big back test or anything. You got kind of close to back test of the monthly [Cloud], didn’t really quite get there so all these are very bullish.” Cantonese Cat believes Dogecoin may soon challenge its all-time high levels, citing a more bullish overall chart structure relative to the previous cycle. “I think DOGE is going to make all-time highs relatively soon. Even the SuperIchi monthly is ready… This is a fairly bullish chart,” he remarked. The analyst referenced potential Fibonacci extension targets of $2.3 (1.414 extension) or even $4 (1.618 extension), underscoring that these levels, while seemingly high, remain theoretically on the table given current market conditions. “It’s kind of insane to think about because of the market cap, but so far I can’t deny the way that this looks right now—it actually looks a little bit more bullish than last cycle.” At press time, DOGE traded at $0.44.
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Don’t Be Surprised If Dogecoin Hits $1 Or $2 ‘In A Hurry’, Says Crypto Analyst Crypto analyst Cantonese Cat (@cantonmeow) suggests a scenario in which Dogecoin could reach $1 or even $2 relatively quickly. Posting on X, the analyst stated: “DOGE closed 3 weeks in a row above 0.786 log fib, which makes higher prices possible; don’t be surprised if it hits $1 or $2 in a hurry.” Why Dogecoin Is Even More Bullish Than Last Cycle In a recent YouTube video, Cantonese Cat provided in-depth technical analysis, comparing Dogecoin’s current cycle to its previous historic run. The analyst highlighted that last cycle, the price faced rejection around the 0.786 Fibonacci level (log scale) before pulling back and consolidating at the 0.618 level for approximately four weeks.
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$BTC $ETH $TRB Crypto ETPs hit record $3.85B inflows as Bitcoin smashes $100K Cryptocurrency investment products set a record for inflows as Bitcoin surged past $100,000 for the first time ever. Digital asset investment products saw their largest inflows on record, with $3.85 billion invested during the trading week of Dec. 2–6, according to a report by crypto investment firm CoinShares. The latest crypto investment milestone came just a few weeks after crypto investment products smashed the previous record of $3.12 billion set in November when Bitcoin BTCUSD traded at about $98,000. The new high in weekly crypto inflows coincided with Bitcoin breaking above $100,000 for the first time on record on Dec. 5, reaching an all-time high of $104,000. Bitcoin leads with $2.5 billion in inflows Coinciding with the Bitcoin price hitting new highs last week, BTC investment products led total crypto weekly inflows with $2.5 billion, bringing year-to-date inflows to $36.5 billion. Short Bitcoin investors were less active last week, with short BTC products seeing tepid inflows of $6.2 million.
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Dogecoin Pressing Range Highs Can Bulls Push DOGE To ATH? Dogecoin experienced a modest rally yesterday, breaking past its local highs and reaching $0.484. The move excited the DOGE community, as the meme coin seemed ready for further gains. However, the price has since retraced slightly, failing to confirm a breakout above this critical resistance Top analyst and trader Cheds shared his insights on X, revealing that Dogecoin is pressing against its range highs. According to his technical analysis, a confirmed breakout above these levels could set the stage for a significant rally, potentially driving DOGE toward new all-time highs While the recent price action has sparked optimism, the market remains cautious, with bulls needing to sustain momentum for any meaningful upside. Cheds highlights the importance of breaking above these critical resistance levels, emphasizing that a successful move could pave the way for DOGE to reclaim its bullish narrative. With Dogecoin at a crucial juncture, the next few days will determine whether the price continues to climb or settles into further consolidation. All eyes are now on the $0.484 mark as traders await confirmation of a breakout or signs of renewed selling pressure Dogecoin Testing Key Levels Dogecoin is currently testing key liquidity levels around $0.44 and below the critical $0.50 mark, sparking intense interest among traders. These levels have acted as both support and resistance, making them crucial for determining DOGE’s next significant move. Analysts believe a clear path to new highs will emerge if Dogecoin can break above these thresholds. Top analyst and trader Cheds shared a detailed technical analysis on X, highlighting Dogecoin’s ongoing battle with its range highs since November 24. Despite multiple attempts, DOGE has struggled to confirm a decisive breakout, which would signal the beginning of a new rally. According to Cheds, once the meme coin clears these key levels a massive surge is likely to follow, potentially propelling the price to challenge its all-time highs for the first time since 2021
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