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Dogecoin Posied for a 1,400% Surge? Analyst Says History is Repeating
As the cryptocurrency market continues to navigate its latest turbulence, one analyst has pointed out an intriguing pattern that could be setting the stage for a significant rebound in Dogecoin (DOGE). Kevin from Kev_Capital_TA flagged $0.93 as a region of immediate resistance and highlighted another potential supply zone near $2.28. He also emphasized $3.95 (the 1.618 Fib) as the ultimate upside objective if bullish momentum persists.
This price surge would represent an increase of more than 1,400%, sparking hope among traders that the meme coin is poised to embark on a new bull run. Kevin’s analysis suggests that DOGE may be mirroring its previous cycle, with the recent market downturn potentially marking the end of the second major correction in this current cycle.
While it remains to be seen whether Dogecoin will indeed follow this charted path, traders are cautiously optimistic about the prospects of a significant turnaround. The swift bounce from $0.20 has given investors hope that DOGE may be positioned for a new leg up, with the price action potentially mirroring its last bull run.
As it stands now, the weeks ahead could prove pivotal in determining whether this prediction comes to pass or not. Should Dogecoin push above its first major resistance levels, traders will likely be eager to ride the wave and capitalize on any potential gains.
In conclusion, Kev_Capital_TA’s chart suggests that DOGE may be poised for a substantial 1,400% surge, but it is crucial to note that this remains purely speculative at this stage. As Dogecoin continues to trade around $0.26, only time will tell if its price action will unfold as projected by the analyst.
What do you think about Kevin’s analysis and the potential for a massive 1,400% surge in Dogecoin? Let us know your thoughts in the comments section below!
Source: bitcoinist.com
