Dogecoin Price May Rally 800% to $1.82 Before Potential Crash
Recent technical analysis indicates that the price of Dogecoin is at a critical juncture, with two potential outcomes:
- A bullish breakout leading to an 800% increase, targeting $1.82.
- A bearish scenario resulting in a decline below $0.1.
Analyst KrissPax noted that Dogecoin could reach the 2.618 Fibonacci level this fall, suggesting significant upside potential from its current price of approximately $0.218. He highlighted previous accumulation zones where Dogecoin remained stable despite market corrections, indicating support from long-term holders.
However, if the price reaches $1.82, a sharp decline towards $0.09 may follow, presenting a buying opportunity for investors. This situation reflects a high-risk, high-reward scenario for potential gains or losses.
Additionally, analyst Ali Martinez identified $0.23 as a crucial breakout level. A move above this threshold could initiate a rally towards higher resistance levels at $0.25, $0.28, and possibly $0.30, following a symmetrical triangle pattern on the 4-hour chart.
