đđ Crypto Analyst Explains Why Dogecoin Price Will Hit $1
Dogecoinâs Road to $1?
Dogecoin ( $DOGE ) has dropped 21% to $0.3787 amid a broader crypto sell-off, with Bitcoin falling from $99,700 to $92,000. Despite the dip, analysts remain optimistic about DOGEâs long-term potential.
đ Bullish Predictions Amid Correction
Analyst Bluntz highlights DOGE is in the fourth wave of Elliot Wave theory, suggesting a bullish fifth wave is imminent. Another analyst, Gladiator, sees parallels with DOGEâs 2021 cycle, predicting a potential rise to $1 or even $10 by year-end.
đ Technical Patterns Indicate Rebound
Trader Tardigrade notes DOGE is forming a high tight flag pattern, a rare sign of strong upward movement. The coin remains above key support at $0.2286 and the 50-day and 200-day moving averages, reinforcing a bullish outlook.
đ Key Levels to Watch
A bounce back could push DOGE to $0.4795 and beyond. A breakout above this level may lead to $1. However, a drop below $0.3646 would invalidate the bullish case, potentially bringing the price down to $0.30.
đ Conclusion
With strong technical patterns and bullish sentiment, DOGE could make a comeback. Will Dogecoin retest $1, or is a deeper correction on the horizon?
