It might be hard to believe, but DOGE's price movement is more influenced by BTC's price than Elon's tweets. As the graph shows, there is still a tight coupling with the father of Crypto coins, albeit with a significant lag and much higher magnitudes. The lag almost disappeared in the current cycle, given the slowdown of BTC, and the magnitudes will probably suffer as well.
Analyzing the recent trends and the Fibonnacci extensions, as well as looking at the higher Bollinger Band, you can see that the minimum target for the current bull is 0.5. This is also confirmed by the linear trend of the latest 2 highs. Yet, DOGE is rarely linear, and there's no reason to believe it would be this time either. Given that BTC would probably rise in the coming days, this would trigger higher rise in DOGE, reaching the Fib extension of 168.2% at 0.6 in this cycle.
Eventually, the price would hit 1, most probably in the next bull cycle, even amid BTC saturation in the short-term, as long as ETH is pulling the market upwards.
Analyzing the recent trends and the Fibonnacci extensions, as well as looking at the higher Bollinger Band, you can see that the minimum target for the current bull is 0.5. This is also confirmed by the linear trend of the latest 2 highs. Yet, DOGE is rarely linear, and there's no reason to believe it would be this time either. Given that BTC would probably rise in the coming days, this would trigger higher rise in DOGE, reaching the Fib extension of 168.2% at 0.6 in this cycle.
Eventually, the price would hit 1, most probably in the next bull cycle, even amid BTC saturation in the short-term, as long as ETH is pulling the market upwards.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.