Crypto Analyst Predicts Dogecoin Could Reach $4 With Key Breakouts

Crypto analyst Cantonese Cat (@cantonmeow) presented a bullish outlook for Dogecoin in a video analysis. He suggests that Dogecoin is entering a third major cycle with potential for significant upward movement if key resistance levels are surpassed.

Key Insights on Dogecoin

Dogecoin is holding the 20-month moving average, indicating a potential bullish trend.
The asset is re-entering the Ichimoku Cloud through consolidation, suggesting positive momentum.
Current price action resembles a cup-and-handle structure, with a healthy pullback at the 0.382 Fibonacci retracement level.
Support has shifted from resistance, reinforcing a bullish outlook.
Critical near-term targets include breaking above the $0.41 and $0.54 levels to reach higher price markers around $1.50, $2.27, and possibly close to $4.

Cantonese Cat emphasizes the importance of multiple time-frame alignment in maintaining this bullish perspective. He notes a possible upcoming breakout but advises caution regarding timing, highlighting a systematic accumulation strategy rather than short-term trades.

At press time, DOGE was trading at $0.231.