Dogecoin’s Historical Performance Points to Potential Price Targets $3.80

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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, Dogecoin has consistently reached or surpassed the 1.618 Fibonacci extension, which currently projects a target of $3.80 for this cycle.

Dogecoin Aim For $3.80

In a recent tweet, a prominent crypto trader highlighted Dogecoin’s historical behavior, noting its tendency to achieve significant milestones based on Fibonacci extensions. The current 1.618 Fibonacci extension level suggests a potential target of $3.80 for Dogecoin’s price during the ongoing bull cycle. 

While acknowledging challenges posed by market dynamics and capital saturation, the trader emphasized the relevance of historical patterns in forecasting potential outcomes for Dogecoin’s price trajectory.

Further into analysis analyst, suggests that Dogecoin’s 3-day RSI (Relative Strength Index) consistently maintained above the 50 level throughout its journey to new all-time highs (ATH). 

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.

Other Notable Price Targets

Alongside the $3.80 target, the trader identified additional price targets based on Dogecoin’s historical performance. These include $0.95 and $1.35 for the current bull cycle, representing significant milestones that align with past price movements. 

The analysis highlights the importance of considering historical trends and Fibonacci levels as valuable tools for assessing potential price movements in the crypto market.

Dogecoin Price Analysis

As of now, Dogecoin (DOGE) is trading at $0.1511, 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.