Analyst Predicts Dogecoin Breakout Potential Despite Recent Market Stress
The analyst known as Cantonese Cat suggests that Dogecoin is primed for a potential late-cycle surge, similar to patterns observed in previous crypto bull markets. He argues that Dogecoin's decisive move has not yet occurred and links this to liquidity cycles and inter-market signals.
- Dogecoin has yet to break its all-time high, which the analyst sees as a trigger for Bitcoin's acceleration phase.
- Recent price action is described as a "wear-you-out" phase with deleveraging events but without invalidating the longer-term structure.
- Bitcoin dominance has been moving sideways, suggesting possible altcoin outperformance if it turns lower.
- The absence of a parabolic phase from Bitcoin to altcoins could indicate that the cycle has not ended.
- He emphasizes that Dogecoin's historical move occurs after sustained compression, often rapidly.
Cantonese Cat does not provide new price targets but refers to prior analyses where he discussed potential levels for Dogecoin based on Elliott Wave structures and Fibonacci retracement:
- Potential upside projections include $0.48, $0.89, $1.23, and $1.96.
- Speculative scenarios suggest possible outcomes above $2.00 or even $4.00.
At the time of analysis, DOGE was trading at $0.201.
