Analyst Predicts Dogecoin Could Reach $1 in Next Price Impulse

Maelius (@MaeliusCrypto) shared a weekly chart for DOGE/USDT from Binance, indicating the potential for an Elliott-wave extension that could push prices towards $1.00.

Key Points on Dogecoin's Market Position

Current price is $0.1843 after a decline from a March high of $0.26.
The price has returned to a demand zone of $0.12 to $0.17, which previously served as resistance.
The 50-week EMA is at approximately $0.205, while the 200-week EMA is around $0.1415, creating a wedge that could lead to increased volatility.
A rising trend-line aligns with the 200-week EMA, reinforcing support near $0.15.
Maelius identifies March 2024’s spike to $0.23 as wave 1 and the October low near $0.12 as wave 2, suggesting the start of a third wave advance.
The projected third wave could reach $1.10, followed by a retreat to $0.65 and completing at $1.50–$1.80.
A close above the EMA 50 at $0.205 may indicate renewed bullish momentum.
Conversely, a drop below $0.14 would invalidate the current Elliott count.

DOGE currently trades at $0.18.