This Trader Updates His Dogecoin (DOGE) Price Prediction – Is $1 Next?

Dogecoin Price Forecast: Potential Rally to $1-$3

Dogecoin gained momentum after Trump's victory in the US elections. The price surged from $0.15 to $0.42 before settling in the range of $0.38-$0.40.

Analyst Mikybull updated his DOGE price prediction, citing a potential "cup and handle" pattern forming on the chart. This pattern suggests a breakout and bullish trend.

Fibonacci extension levels indicate targets of $1.67 and $4.36 if the rally continues. Additionally, an "Adam and Eve" double bottom pattern signals further bullish sentiment.

Interestingly, Mikybull observed that in 2020, whenever Dogecoin's RSI crossed above 70, significant price surges followed. With the RSI approaching that level again, he anticipates another potential rally.

Mikybull forecasts a price range of $1-$3 for Dogecoin in the current cycle, aligning with the Fibonacci targets. Breaking past key resistance levels could unlock further upside potential.

Elon Musk's recent mentions of Dogecoin on Twitter also contribute to the positive sentiment.

While the $1-$3 price forecast is ambitious, the next milestone for Dogecoin is to surpass its previous all-time high of $0.73 from 2021. Achieving this would pave the way for a potential climb towards $1.