Dogecoin (DOGE) is poised to enter a powerful Wave (3) expansion according to an analyst using Elliott Wave Theory.Independent analysis suggests a mid-channel target of $2.74 and a strong support level at $0.16 for DOGE.DOGE experienced a short-term decline, dropping from above $0.21 to below $0.191 but has gained 8.0% over the past 7 days.Long-term projection indicates DOGE could potentially reach $3.37 or even as high as $8.5.