Dogecoin Could Surpass $10 as Analyst Highlights Key Fibonacci Level

A crypto analyst, DOGECAPITAL, has identified a Fibonacci level suggesting that Dogecoin could reach over $10. The analysis is based on past bull cycles where Dogecoin peaked at the 4.236 Fibonacci level.

Key Insights

The monthly Dogecoin chart shows consistent cycle peaks using Fibonacci extensions.
In previous cycles, Dogecoin topped at the 4.236 Fibonacci level, and this pattern might continue.
If the pattern holds, Dogecoin could reach $33.25, with potential highs up to $100 within an ascending channel.
This would result in new all-time highs beyond its current peak of $0.74.

Market Cap Considerations

A price rally to $33.25 implies a market cap of approximately $5.6 trillion for Dogecoin.
DOGECAPITAL argues market cap isn't a driving factor for Dogecoin's movements, citing Shiba Inu's explosive growth as an example.
The focus remains on the long-term Fibonacci structure rather than market cap or fundamentals.

Currently, Dogecoin trades around $0.14, showing an increase over the last 24 hours.