A new chart by BigMike7335 on X suggests Dogecoin is poised for a bullish wave targeting $2.43, based on Elliott Wave theory. Past performance saw DOGE climb from $0.0020 to nearly $0.68 in five waves, labeled Wave 5(A). The next move could propel DOGE to $2.43.
Currently, Dogecoin is in a corrective phase, seen as a W–X–Y formation or Wave (B). This has kept prices in a range, as indicated by the Ichimoku Cloud. In December, DOGE began compressing into a triangle pattern, hinting a breakout could be forthcoming.
Big Mike anticipates a retest of the top trendline for a potential support/resistance flip. If successful, Wave (C) could commence, reaching the $2.43 target, aligning with key Fibonacci levels. Currently trading at $0.25, a pullback to $0.15247 might indicate the start of Wave (C).
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