A recent technical analysis of the Dogecoin price graph on the weekly candlestick delay revealed a convincing perspective for the memes piece long -term trajectory. According to the analyst, Dogecoin is currently the only coin capable of providing a 5-10x return. The prediction is rooted in the analysis of the Dogecone price action using The theory of Elliott waves, With a detailed number of pulse waves indicating that the meme part is currently in a significant macro trend phase.
The fifth wave of Dogecoin pulse and its underdbean structure
This technical analysis Elliott Waves, noted On the social media platform X by Crypto Xforceglobal analyst, shows that Dogecoin is currently in the fifth and last pulse wave of a multi -annual macro elliott wave structure. This macro wave sequence consists of five waves of primary pulse, each wave playing over several years. The fifth wave in progress, which began in mid-2024, is expected to continue its course for the coming years.
Interestingly, the technical analysis shows that this fifth wave Elliott in progress is divided into a subvagues of high trends and corrections. As such, the big fifth wave, which is always optimistic, will be filled with notables Reduction periodsEven if the general movement is upwards.
Dogecoin is currently in the third sub-switch of this fifth largest wave, which should also be optimistic. However, this third sub-sworn itself contains several smaller supports, and the same part is currently in the second corrective phase of this smaller sub-la-label structure. This consolidation of recent prices and The correction trend This has persisted over the past eight weeks.
Short -term perspectives and expected price objectives
In the current state of things, Dogecoin is in a under-Marine-2 formation in light of its drop of $ 0.48 since December 2024. Although the correction phase could continue in the short termDogecoin seems to have found support at $ 0.25, and the third wave of sub-Sous-Subdiffère could start anytime soon. Although the analyst has not noted an exact objective, his projections on the Dogecoin prices table put the price goal of the third wave of sub-Sous-Sol at around $ 1.7. This will see the Dogecoin shot alone over its top of all current time of $ 0.7316.
Looking further, the third larger sub-sworn of the fifth wave of impulse in progress should push Dogecoin to the fork of $ 3.3. For Long -term macro perspectivesThe fifth full impulse wave should lead Dog to around $ 6.5 in a multi -year rally in accordance with the number of Elliott waves. Xforceglobal noted that history plays a crucial role in minimizing the margin of error when identifying these long -term price objectives.
At the time of writing the editorial staff, DOGE is negotiated at $ 0.2511, down 0.47% in the last 24 hours. Achieving the expected objectives of $ 1.7, $ 3.3 and $ 6.5 will represent 577%, 1,215% and 2,490% of increases compared to the current price level.
Felash star image, tradingView.com graphic
