- Doge shows signs of repeating his historical pattern with a Fibonacci target at $ 2.28
- Consolidation above the key levels can set an outbreak to $ 0.50 – $ 0.75 range
- Excurring in the chain reflect caution, but resilience almost $ 0.17 suggests possible recovery
Dogecoin (Doge) again attracts the attention of analysts and traders, as well -known market patterns arise. The trade at $ 0.1856 On 9 June the top meme coin shows signs of repeating historical price behavior that, if it continues, could indicate the start of another large rally.
The core of the bullish thesis lies in a multi-cyclus pattern where Dog consistently has returned to and beyond the 1,618 Fibonacci extensions level. With a market capitalization of more than $ 27.7 billion, Dogecoin seems to be in a critical consolidation phase and analysts believe that an outbreak can be considerable.
Historical Fibonacci pattern points to an ambitious purpose of $ 2.28
Crypto analyst Javon⚡️marks emphasizes that Dogecoin exceeds the 1.618 Fibonacci level in both previous bull cycles. In cycle 1 this goal was $ 0.0074 and in cycle 2 it was around $ 0.039. Both were not only met, but also certainly broken. Now Cycle 3 places the 1,618 FIB level at $ 2.28.
Historically, Doge’s price promotion has honored these levels, increasing the chance of a repetition. Marks believes that current consolidation above $ 0.06 reflects the pre-breakout phases of earlier cycles.
Therefore, if this trend continues, the path to and beyond $ 2,28 can be plausible. Fibonacci levels often act as important resistance and breakout zones, which can guide upcoming price action.
Second analysis confirms the “known” accumulation pattern
Furthermore, these prospects supports and analyst Tardigrade has identified a well -known accumulation pattern that forms on the doge graph, one that reflects the structure that is seen before the explosive rally at the end of 2024.
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The most important resistance levels, once strong barriers, are now confronted with pressure from rising lows and rounded soils. Orange and purple arches on the graph of Tardigrade indicate consolidation zones, followed by pimples. If Doge breaks more than $ 0.23 and maintains the force above $ 0.14 – $ 0.16, a target rate between $ 0.50 and $ 0.75 becomes increasingly feasible.
Chain flows reflect the market sentiment
Data on chains add another dimension to the analysis. Since November 2023, Doge has seen Dominant Moets, often larger than $ 200 million.
Related: Dogecoin Breakout Watch: Chartists say that $ 0.20 could activate up to $ 0.25
These outflow suggest that investors are careful, in accordance with a general downward trend. However, recent price stability above $ 0.17 shows some resilience. Continuous outflow can suppress profit in the short term, unless buying pressure reverses the trend.
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