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<p>The post <a href="https://coinpedia.org/news/dogecoins-historical-performance-points-to-potential-price-targets-3-80/">Feeling Bullish on Dogecoin? Analyst Predicts $3.80 Price Target Based on History</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Crypto analysts are pointing to a fascinating trend in Dogecoin’s historical performance that could hint at potential price targets for the current bull cycle. According to the analysis, <a href="https://coinpedia.org/press-release/dogecoin-price-slides-but-traders-are-backing-dogeverse-to-see-big-gains/">Dogecoin</a> has consistently reached or surpassed the 1.618 Fibonacci extension, which currently projects a target of $3.80 for this cycle.</p> 
<h2 class="wp-block-heading" id="h-the-fibonnaci-link">The Fibonnaci Link</h2> 
<p>A recent tweet by a top crypto trader has revealed Dogecoin’s interesting connection with Fibonacci extensions. This mathematical concept isn’t just theory; it’s a potential roadmap to profits. According to analysis, Dogecoin has consistently followed Fibonacci’s lead, with the current 1.618 extension pointing towards a staggering $3.80 target for this cycle.</p> 
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   <p lang="en" dir="ltr">In all of <a href="https://twitter.com/hashtag/Dogecoins?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoins</a> bull cycles it has never failed to meet or surpass the 1.618 Macro FIB extension measured from previous bull market highs to bear market lows. The current 1.618 FIB on <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> currently sits at $3.80. While I think this can be more difficult to achieve then… <a href="https://t.co/9UE0rE3zCY">pic.twitter.com/9UE0rE3zCY</a></p>— Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1783809976173019507?ref_src=twsrc%5Etfw">April 26, 2024</a>
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<p>While acknowledging challenges posed by market dynamics and capital saturation, the trader emphasized the relevance of historical patterns in forecasting potential outcomes for <a href="https://coinpedia.org/guest-post/chatgpt-reveals-5-coins-poised-for-dogecoin-like-gains-in-2024/">Dogecoin’s price trajectory</a>.</p> 
<p><strong>Doge’s Strength – Revealed</strong></p> 
<p>But it’s not just about Fibonacci. Dogecoin has also shown its strength through its 3-day Relative Strength Index (RSI). This metric has consistently stayed above the important 50 level as Dogecoin reached new all-time highs.</p> 
<h2 class="wp-block-heading" id="h-the-journey-ahead">The Journey Ahead</h2> 
<p>Based on the historical pattern observed with the 3-day RSI, the trader suggests that Dogecoin is poised for a bounce from the current range, potentially leading to upward movement in price.</p> 
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   <p lang="en" dir="ltr">As you can see here when it comes to <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> in its previous bull cycle the 3 day RSI never lost the 50 level on its path to new ATH's. If we're to keep similar structure like we have been then we want to see <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> bounce from this exact same range we're in and eventually head… <a href="https://t.co/xQP4zVZiVs">pic.twitter.com/xQP4zVZiVs</a></p>— Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1783805987595428022?ref_src=twsrc%5Etfw">April 26, 2024</a>
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<h2 class="wp-block-heading" id="h-other-notable-price-targets">Other Notable Price Targets</h2> 
<p>Alongside the $3.80 target, the trader identified additional price targets based on Dogecoin’s historical performance. These <a href="https://coinpedia.org/news/dogecoin-doge-price-to-reach-1-in-the-coming-weeks-analyst-predicts/">include $0.95 and $1.35</a> for the current bull cycle, representing significant milestones that align with past price movements.&nbsp;</p> 
<p>The analysis highlights the importance of considering historical trends and Fibonacci levels as valuable tools for assessing potential price movements in the crypto market.</p> 
<h2 class="wp-block-heading" id="dogecoin-price-analysis">Dogecoin Price Analysis</h2> 
<p>As of now, Dogecoin (DOGE) is <a href="https://markets.coinpedia.org/dogecoin/">trading at $0.1511</a>, showing a minor decline of 0.33% over the past 24 hours. The trading volume has also decreased by 31.87%, amounting to $959 million. Despite these fluctuations, Dogecoin’s market capitalization remains stable at approximately $21.3 billion.</p> 
<p><strong>So, how are YOU feeling – bullish (or bearish) on Dogecoin? Share your sentiment.</strong></p>

Feeling Bullish on Dogecoin? Analyst Predicts $3.80 Price Target Based on History

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