Learn about the technical analysis predicting a 570% growth in Dogecoin and a possible surge in price to $2.28. Discover the similarities with previous bullish cycles.
A new technical analysis by Javon Marks indicates that Dogecoin (DOGE) is in its third bullish cycle with the potential for a 570% growth. Based on the biweekly chart and Fibonacci indicator, Marks believes that if the 1.0 Fibonacci level at $0.569 is breached, the path to rise to the 1.618 Fibonacci level and the price of $2.28 will be smooth. Currently trading at $0.316, Dogecoin has experienced a 50% price drop from December 8 till now. Analysts suggest that the current price movement pattern of Dogecoin resembles the two previous bullish cycles where the price managed to surpass the 1.618 Fibonacci level in both cases.
