2,767% Phenomenal Rally Imminent! Dogecoin Enters Perfect Accumulation Zone!

▲ Dogecoin (DOGE)/ChatGPT generated image ©

The original meme coin Dogecoin (DOGE), which has been trading sideways for a long time, failing to break the $0.10 barrier, has now entered a perfect accumulation zone ahead of a massive explosion, and a groundbreaking analysis predicting it will soon soar to $2 has drawn significant market attention.

According to the cryptocurrency specialized media Bitcoinist on April 24 (local time), virtual asset analyst Crypto Patel diagnosed that Dogecoin is currently undergoing its most crucial accumulation phase within a narrow price range of $0.07 to $0.09. From a technical perspective, Dogecoin has successfully defended this range as a key support level multiple times over several months, proving the existence of strong buying interest.

According to his long-term Elliott Wave chart, which spans from 2019 to the projected peak in 2027, Dogecoin surged an astonishing 26,834% from its bottom in a past cycle, reaching a high of $0.72334. The analyst defined the current downward channel on the 2-week candlestick chart, which has continued since peaking at $0.48 in December 2024, as the 4th wave, a price consolidation phase.

Crypto Patel predicted a strong rebound from the lower trendline of the current downward channel, which serves as a support zone. If the 5th wave expansion begins in earnest, Dogecoin is expected to stage a 2,767% rally, reaching its final target of $2. He sequentially presented price targets of $0.50, $1, and $2, and set the stop-loss threshold at a downward break of $0.048.

However, despite the long-term bullish structure being established, Dogecoin has not yet entered an explosive breakout phase. Under the influence of macro market conditions, the most pressing task currently is to decisively break through the $0.10 mark, which it touched at $0.102 on April 17 before being rejected by resistance.

Another analyst, Trader Tardigrade, interpreted the failure to break the $0.10 resistance at that time as a natural and clean retest process after breaking out of a descending triangle pattern on the daily chart. Experts unanimously agreed that it is essential for Dogecoin to form a new higher high, surpassing its previous peak, to transition into a perfect uptrend.

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