Dogecoin is showing bullish signals and aims for a significant increase, with a projected target of $1.17, indicating a potential 591% rise from its current position.
The cryptocurrency has experienced a substantial growth of over 880% since June 2022, reaching a peak around the Fibonacci extension level of 0.618.
Dogecoin is currently trading between $0.14 and $0.17, facing key resistance at $0.168 and heightened volatility due to whales holding a significant portion of the supply.
Speculation around a Dogecoin ETF and its adoption in new sectors, such as Bhutan accepting it for travel payments, are contributing to the increasing interest and potential price movements of Dogecoin.