Dogecoin took he show of the market following Trump’s win in the US elections. The DOGE price pumped from $0.15 to $0.42 before consolidating int he current $0.38-0.40 range.
Mikybull analyst updated his DOGE price forecast to his 77k followers on X, formerly Twitter.
Mikybull’s chart shows Dogecoin testing an important resistance zone that’s acted as a ceiling in the past. When Doge has broken above this level before, it’s led to huge rallies. Now, it looks like a classic “cup and handle” pattern is forming – a bullish sign that often precedes a breakout.
The trader is also pointing to Fibonacci extension levels that suggest potential Doge targets of $1.67 and $4.36 if the rally continues. And he notes an “Adam and Eve” double bottom pattern, another bullish formation.
Source: X/@MikybullCrypto
History Supports the Upside Interestingly, Mikybull notes that back in 2020, whenever Doge’s RSI (a momentum indicator) crossed above 70, massive price surges followed – over 16,000% at one point. With the RSI approaching that level again, he thinks we could be set up for another monster rally.
$1 to $3 Price Target Putting it all together, the trader is forecasting Dogecoin could reach a price between $1 and $3 in the current cycle. That aligns closely with the Fibonacci targets on his chart. If Doge can break past key resistance levels, the upside potential seems significant.
Read also: Meme Coin Whales Are Massively Accumulating PEPE – Will Price Keep Pumping?
Elon Musk has been mentioning Dogecoin multiple times on X (formerly Twitter) these days. He’s talked about working on a new project with the US government’s Department of Energy Efficiency (DOGE). Mikybull’s $1-$3 price forecast is certainly ambitious, but let’s take this one step at a time. The next logical milestone for Doge is to break its previous all-time high of $0.73 from 2021. If it can accomplish that, the path to $1 will be much clearer.
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The post This Trader Updates His Dogecoin (DOGE) Price Prediction – Is $1 Next? appeared first on CaptainAltcoin.
