Can one reach $0.60 using Dogecoins? This Price Level Is Right Now Crucially Important

MCO noted that price movement has so far obeyed the fourth-wave Fibonacci retracing he set out in prior sessions, even with the local low of about $0. 163. He said, "The price maintained this support range between 15.5 cents and 16.8 cents as typical Fibonacci support in a wave four,” noting that the rebound has already completed the "basic minimum" criteria for a fifth-wave launch.

Dogecoin's most recent effort has merely retested the 30 April high at $0.193, leaving the fifth wave "not healthy enough to really be considered a fifth wave that's already completed." Singing out the 123.6 percent, 138.2 percent, and 161.8 percent extensions as traditional zones that would confirm a correctly extended fifth wave, the analyst so predicts at least "one or two Fibonacci levels above where the third wave crested. If momentum stays the same, the optimum target region starts fractionally above $0.193 and might expand into the low-20-cent level.

MCO also charted the backup in which the market loses the $0.18 floor. Given the resultant retracement remains corrective and, most importantly, exceeds the 6 May low at $0. 163, he would see the setback as the "B-wave pullback" within a larger "wider ABC structure" that finally drives Dogecoin to new cycle highs. "That would enable a larger ABC framework... and the B-wave retreat might just be corrective, but it has to be above this level on May 6.

Although the current segment focused on the micro-structure—whether the fifth wave finishes in a single thrust or morphs into a more complex ABC variant—the analyst reiterated that none of the described scenarios negate the larger bullish thesis so long as the $0.155 to $0.168 macro support band survives. Once the whole higher-degree impulse cycle runs, that framework still results in a wave count projecting Dogecoin towards the psychologically significant $0.60-cent range.

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