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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

This Fibonacci Level Puts The Dogecoin Price Above $10 This Cycle

Scott Matherson
Scott Matherson
2 weeks ago
3 mins read
Dogecoin

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Crypto analyst DOGECAPITAL has drawn attention to a Fibonacci level, which suggests that the Dogecoin price could rally above $10 in this bull run. The analyst noted that DOGE previously reached this Fibonacci level, which suggests it may do so again in this cycle. 

Dogecoin Price Eyes Rally Above $10 With This Fibonacci Level

In an X post, DOGECAPITAL predicted that the Dogecoin price could rally above $10 if it reaches the 423.6% Fibonacci level. The analyst used the Fibonacci tool to highlight the fact that both the first and second DOGE cycles topped at the 423.6% level. Based on this, the foremost meme coin could reach this level, surpassing the $10 target.

Related Reading

Dogecoin

This Fibonacci Level Puts The Dogecoin Price Above $10 This Cycle

2 weeks ago

Interestingly, DOGECAPITAL noted that should history repeat itself, the Dogecoin price could rally to as high as $36, which is where the 423.6% is. This could mark the potential top for the meme coin in this cycle. The analyst also confirmed that DOGE is nowhere near its top in this third cycle based on the historical timing of past cycles. 

If this historical pattern keeps playing out, DOGECAPITAL predicts that the projected top for the Dogecoin price could occur around the final week of October. The analyst also believes that the market has entered DOGE season with Bitcoin reaching new all-time highs (ATHs) and the meme coin currently sitting near key support. 

Dogecoin
Source: DOGECAPITAL on X

However, despite the current bullish sentiment in the crypto market, it is worth noting that the Dogecoin price is still sitting just below the psychological $0.2 level. As such, this raises doubts about whether the DOGE season has truly begun. 

Crypto analyst Trader Tardigrade stated that the DOGE/BTC chart may show a God candle this season, which would kickstart the DOGE season. Meanwhile, crypto analyst Kevin Capital noted that the DOGE/BTC chart is sitting in a historical zone of support. He added that the monthly time frame indicators are also fully reset, providing the best setup for the Dogecoin price.

DOGE Eyes Rally To $0.25 In The Short Term

In an X post, crypto analyst Ali Martinez predicted that the Dogecoin price could rally to $0.25 in the short term. Alluding to DOGE’s daily chart, Martinez stated that the meme coin is trading within a channel and that it just bounced off the bottom. He added that a buying spike at this level could send DOGE to the top of the channel at $0.25. 

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Dogecoin

Analysts Predict Major Dogecoin Price Rally After Breaking 50-Day Trendline

1 month ago

This level is significant as it marked the last local top for the Dogecoin price. As such, a successful break above this level could lead to higher prices for the meme coin. Meanwhile, Trader Tardigrade stated that DOGE’s daily RSI might find support soon, completing a healthy pullback and preparing for a new surge. 

At the time of writing, the Dogecoin price is trading at around $0.19, up over 3% in the last 24 hours, according to data from CoinMarketCap.

Dogecoin
DOGE trading at $0.20 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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