The action of dogecoin prices in the last 24 hours reflected turbulence sweeping the wider cryptography market. The same part suffered a sharp drop On February 3, two-digit was tumbled while the market underwent a widespread sale, triggering mass liquidations on several cryptocurrencies. Dogecoin himself was not sparedWith a considerable number of traders faced with liquidations.
However, Despite short -term painThe Crypto ðogecapital analyst (@ dimapotts36) suggests that this slowdown was part of a much greater configuration, which could catapult Dogecoin beyond its level of all time towards a new peak between $ 1.50 and 2, $ 10.
The Dogecoin price crash is aligned with historical trends
ÐOGECAPITAL The latest analysis indicates This recent Dogecoin accident has been planned as part of the larger market cycle. The analyst shared ideas pointing towards the behavior of historical prices, making comparisons with the previous Haussiers cycles of Dogecoin. On November 24, 2024, the analyst had described the expectations for a significant correction, referring to the way in which the price had previously traced after reaching the level of fibonacci of 78.6% in a past cycle.
At that time, Dogecoin had reached this key level of Fibonacci before living a net withdrawal of -56%, which then gave way to a massive rally. The analyst had stressed that this model could repeat itself, warning that investors should expect significant corrections on the path of new summits. DOGE now undergoing a similar retirement, ðogecapital estimates that the conditions align for the next stage of the rally.
The price rebound could push the price of the Doges to $ 1.50 and beyond
Following the expected withdrawal, which materialized while Dogecoin reached a background of $ 0.22,237 in the last 24 hours, the analyst noted that Dogecoin is now prepare for A possible push towards new heights. In his last statement, he reaffirmed his confidence that the asset will soon resume his ascending trajectory.
Once the withdrawal is finished, Dogecoin could resume its ascending trajectory and start to exchange above the levels of multi-year resistance. In this case, the analyst noted that this could push the same part to a peak of at least $ 1.5 or to an end of $ 2.10. These targets are based on Fibonacci extension levels from the 2022 bear market.
From now on, Doge is in his third cycle And could be about to repeat the result of the second cycle. In particular, price projections do not stop here, because the fibonacci extension analysis shows that Dogecoin could even reach $ 3.94 this cycle.
Despite the Sweet feeling surrounding The recent drop in prices, the analysis of ðogecapital provides a bullish perspective. At the time of writing the editorial staff, DOGE is negotiated at $ 0.2636, up approximately 6.3% in the last 24 hours. However, it remains down approximately 21.3% within seven days, after losing support at $ 0.31. The first step to reach $ 1.5 would be that the Dogecoin Bulls resume this support at $ 0.31, then moved above the resistance to $ 0.5 before finally exceeding its top of all current time of current time $ 0.73.
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