Dogecoin has continued its weekly decline to the past 24 hours, with the emergence of price movement as if it were constant unification of less than $ 0.35, at least in the next few days. However, the bullish feelings He continues to continue in DogecoinAnd technical analysis indicates that Mimi’s currency is still on the right path Access to its highest levels ever This course.
According to Crypto Analystcbalo, on the X social media platform, Dogecoin is still in the midst of an upward stage in the Elleott Wave cycle, and the last fifth wave has not been completed. This means that the M. currency can see another boom before reaching its peak in the current cycle.
Elliott’s Dogecoin: Why do the fifth wave concerned
the Elliot wave theory It is a widely used technical analysis style that determines the five -drive patterns in price trends, with the fifth wave usually the final batch in an upward direction before starting the corrective stage.
Share visions On the x social media platform, @BBTCBALO stressed that the fifth wave of Dogecoin is still incomplete, indicating that the price still has a room for climbing before entering a declining correction. His analysis was accompanied by a monthly monthly time frame scheme, which presented a long -term vision of the Dogoin price structure. The graph revealed that Dog has been following the Elliot wave pattern since 2017, with every driving wave that has been revealed for several years.
Based on this analysis, it is possible that the fifth wave of Dogecoin is in late 2023, which represents the beginning of what could be a multi -year upward up before making a greater corrective step. If the number of the wave is correct, the DOGE may continue to grind the top gradually throughout 2025, and its gains may extend well to 2026 before completing the course.
How high Doge is before the course ends?
Elliott wave expectations indicate that the fifth wave often exceeds the peak of the third wave, which means that Dogecoin can turn towards the highest new level ever. It is worth noting that the third wave reached its peak at the highest level of origins at all at $ 0.7316, which will be the most important resistance to overcoming it.
While BTCBALO did not do Provide the accurate price goalDogoin’s peak chart was placed somewhere about 5 dollars. After reaching this targeted price, the correction elliott ABC is expected to start. With this in mind, BTCBALO Warning that the bear market After the peak of the price of a severe dogecoin, the warning of the merchants of excessive greed. His analysis indicates that after its expected climax of $ 5, Meme can face a sharp correction and return to $ 0.20 as the market enters a declining phase.
At the time of this report, Dogecoin is traded at $ 0.3265, which reflects a 0.8 % decrease over the past 24 hours and a decrease of 6.4 % during the past seven days. if A expected gathering checks Dog is a mark of $ 5, and this represents an increase of about 1430 % of its current price.
Distinctive image from Istock, Chart from TradingView.com
