An analyst says there is no reason for the price of #DOGECOİN to peak below a dollar, pointing to an upward trend from the historical price structure.
Experienced $DOGE
a short-term decline in sentiment, as its price movement reflected slight fluctuations in recent days. Starting at about $0.165 on June 25, #meme briefly rose to just over $0.169 by June 30. However, the upward momentum did not hold, and the price retreated to $0.162 today.
This movement occurs contrary to a higher target set by analyst Master Ananda.
Support from 2022 remains intact
According to Master Ananda's chart, $DOGE is still supported by a price structure that began to form in June 2022. At that time, DOGE significantly declined from its all-time high in May 2021 at around $0.74. Since then, a strong support level has emerged, preventing further declines and acting as a launch point for subsequent increases.
Price forecast #دوجكوين
It is worth noting that since the lowest point of the bear market in June 2022, the analyst reported that Dogecoin has risen by more than 880%, reaching a peak close to $0.47 in December 2024. This move may coincide with the Fibonacci extension level of 0.618. The Fibonacci structure, as interpreted by Ananda, shows future price forecasts and potential market peak formations.
Fibonacci targets and highlighted resistance levels
Based on this model, Master Ananda set the next target at $1.17 based on a Fibonacci level related to the 2021 bull market and the 2022 bear market. From the current price of $0.1621, moving to $1.17 would represent an increase of approximately 622%. When measured from the June 2022 low of $0.05, the growth potential to $1.17 reaches about 2240%, equivalent to over 23 times in value.
Despite this long-term outlook, Ananda also noted that markets follow cycles, pointing out that corrections often follow upward movements. With Dogecoin returning to what the analyst called 'baseline levels', the resistance levels that were breached in late 2024 are likely to need retesting. These points include $0.59 and $0.74.
Relevant price levels in case of weak market conditions
If the broader market does not perform well, many lower resistance levels will remain relevant, according to the analysis. The $0.35 level lies directly below the last major peak and may become significant under declining momentum.
The analyst stated that the $0.70 level should be monitored as it was breached in the December 2024 rise. He also identified $1.05 as a potential new all-time high. According to Ananda, there is no reason for the price increase of $DOGE to halt in this rise without reaching one dollar.
Further price forecasts for Dogecoin above the one dollar level
In another context, analyst WIZZ expects the price of #DOGE to reach one dollar, citing Chris, the market monitoring expert. In a tweet dated June 24, Chris pointed out that Dogecoin had bounced from a support line that had lasted for years after a 13% correction, indicating the end of the downtrend.
And he expects a rise starting in July, which could push the price of Dogecoin to one dollar, possibly reaching $1.40, advising investors to take profits at these target levels.