Dogecoin up 350% From Bottom, But DOGE Price Still Has A Long Way to Go

Dogecoin Soars 350% from Bottom

Analyst Rekt Capital reports that Dogecoin's (DOGE) price has surged 350% from its recent cycle low. Multiple analysts believe that the current market cycle offers significant potential for further upside.

Technical Indicators Suggest Continuation

The surge in DOGE's price coincides with broader market optimism and positive technical indicators that suggest the rally may continue.

Golden Cross Formation

Technical analyst Milkybull Crypto has identified a golden cross formation on DOGE's weekly chart, historically associated with substantial price movements. The analyst draws parallels with a similar pattern in Q4 2020, which preceded significant rallies.

Fibonacci Extension Levels

Based on Fibonacci extension levels, analysts Ali and Milkybull Crypto project potential price targets of $3.95 to $23.26 and $2 to $4, respectively

Strong Momentum

DOGE has exhibited strong momentum across multiple timeframes. It has gained 21.9% in the last 24 hours, 88.5% in the past week, and over 159% in the past month, despite being 60.4% below its all-time high.