According to the DOGE bull market fractal chart, the "conservative target" for Dogecoin price is starting at $2.35🔥🔥🔥

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Although the daily chart is bullish, the crypto asset lost support at the 50-day EMA on December 19 and has not recovered yet.

Long-term target for Dogecoin is high

An analyst pointed out that Dogecoin's long-term target remains quite high in 2025, with a target price between $2.35 and $2.60, representing a 683% increase from the current price, although it seems far-fetched, it is considered a "conservative target." This target is based on Dogecoin's performance relative to Bitcoin and Ethereum in previous bull markets.

Another analyst, Javon Marks, also set a similar target price of about $2.30, based on Fibonacci extension levels, indicating that the price is likely to rise above the 1.618 Fibonacci extension level, leading to a price increase of over 570% from now.

Dogecoin may have bottomed out

On December 20, Dogecoin plummeted to $0.262 before rebounding to above $0.30, and has maintained a daily closing price above $0.30, but still below the 50-day moving average.

Based on historical outlook, Dogecoin may have bottomed out, as it has shown liquidity sweeps at the key levels of $0.32 and $0.34. With the Relative Strength Index (RSI) falling below 30, selling pressure is nearing exhaustion, a return to above $0.35 could trigger higher highs in 2025.

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