!! Important Notice !! Important Notice !!
!! DOGE holders must read this completely !!
Will $DOGE break 0.5 this month? After a wave of crazy selling, the market price fell to around 0.38 USD, reaching a strong support level at 0.455 USD, where selling pressure began to weaken, but the previous high of 0.48 USD looms like a mountain in front.
Currently, the price of DOGE is 0.405 USD, with a market cap around 59.5 billion USD. It has been consolidating between 0.39-0.41 USD recently, accumulating chips patiently to break through and stabilize, and when market conditions mature, these main funds will leverage various favorable factors to propel the currency value for the next wave of growth.
As Dogecoin (DOGE) price consolidates around 0.40 USD, bullish catalysts for the world's largest meme coin are continuously building in the background, indicating that a new round of increase may be imminent. Since breaking the short-term upward trend and continually battling resistance formed by the 21DMA, DOGE still faces the risk of further correction in the short term.
When drawing Fibonacci extensions from the previous bear market low to the previous bear market high, it can be seen that Dogecoin's rebound consistently exceeded the 4.236 Fibonacci level, surpassing this Fibonacci extension by more than 10 times during its rebound in 2021. The Fibonacci extension level of 4.236 from the bear market low in 2022 to the high in 2021 indicates that Dogecoin should reach at least 3 USD in this cycle.
If the price falls to around 0.38, 0.35, or 0.32 USD, it may be a good opportunity for buyers to accumulate in batches. If the bulls can break through 0.45 USD and establish it as a short-term support level, then breaking 0.5 USD becomes an important threshold. However, if the 0.38 USD support level cannot hold, caution is advised, as it may continue to drop below 0.35 USD.
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