Dogecoin has been on a recent bull run that has raised questions about its outlook. While some expect it to reach the $3 mark, analyst Kevin Capital is more cautious. In a recent comment on X (formerly Twitter), he noted that despite the price hitting “new highs” at the 1.618 Fibonacci extension level during previous bull market cycles, given that it is currently at $3.90, the analyst believes that reaching it is unlikely during this cycle.
On the other hand, the famous analyst expects the price to target $1.80, and this will be conditional on the strength of Bitcoin’s performance. Despite his reservations about his target of $3, Capital highlighted the expected “golden cross” pattern, which may be formed by price movements on the weekly chart, which is a promising technical indicator that was last formed 4 years ago. If the pattern is repeated again, the DOGE price may witness relative stability followed by sharp increases starting in December and extending until the spring of 2025.
Price Target: $3.90 (Unlikely to be reached)
Alternative Target: $1.80 (Contingent on Bitcoin performance)
Golden Crossover Pattern: Its Formation May Precede the Start of an Uptrend Trigger: Weekly Close Above $0.18
