How are you all? I hope you are well. Today, I am sharing my own thoughts on Dogecoin. You can understand how the price has been fluctuating over the past few days—the entire market seems a little unstable. Dogecoin is also pulling down and trying to rise again at times. Seeing all this, I also wondered—what is really going on inside?
When I looked at the charts a little slowly, I thought—even though the price has decreased, the big picture has not been completely destroyed. On the contrary, combining a lot of old data, it seems that Dogecoin is now moving within a long cycle, which we have seen before. Some analysts say that this is a pattern like Elliott Wave, and to be honest, I couldn't deny it much when I saw the chart.
What I understood is that Dogecoin may have passed its fourth shock and is now moving towards the fifth stage. Although it seems that the recent few dips have scared many, the lower levels have not been broken yet. So I thought—maybe there is still a chance of a rally.
Some levels keep coming up—it seems like the $0.33 to $0.47 range needs to be broken first. Then the $0.50 psychological barrier, and then the recent all-time high of $0.731. If these can be broken, then it really wouldn't be unusual for it to go up to $1. Some estimates even say we can look even higher, towards $1.70, if the market fully turns around.
But there may be one component I usually keep in mind—nothing is sure in crypto. You should not do something without doing all of your very own research here. I've shared what I've visible, understood, and made my personal decisions—but whatever, making a decision, think for yourself.