Dogecoin's current trading range between $0.18 and $0.24 resembles past accumulation phases in bull cycles, indicating a possible breakout soon.
Technical analysis shows Dogecoin's consistent relationship with Fibonacci extension levels, hinting at a potential rally above $2.28 in the ongoing cycle.
In previous cycles, Dogecoin surpassed the 1.618 Fibonacci extension level, resulting in significant price increases of over 8,200% and 43,000% from cycle lows.
Exceeding $2.28 in the current cycle could set the stage for Dogecoin's long-term valuation above $1 even in future bear markets, with the current price at $0.1912.