- Analyst claimed that Dogecoin (DOGE) might reach $1.
- Dogecoin might extend its rally to $0.1 if buyers regain control.
- A break below the $0.080 support could erase more gains and send the coin to $0.078.
Hov, a certified Elliott Wave analyst, posted on X, noting that Dogecoin’s (DOGE) price would climb significantly. Despite his bullish forecast, Hov admitted that reading the price action on a micro timeframe was difficult.
The analyst, however, opined that a retest of the $0.06 support could offer a good entry for those looking to buy the meme coin.
$DOGEStill playing nicely but the move from the low, well pretty much all directions have been very 3 waved for #doge (threaded)
Making it hard to read on the micro
My thoughts are still the same
While we could get another tap of that .06 support level I wouldn't be cutting… pic.twitter.com/GlLrlfcNu1
— Hov (@SenseiHov) February 15, 2024
On January 26, Hov pointed out that DOGE was close to its bottom. Using the Elliott Wave Theory, the analyst posted a chart showing how Dogecoin would rise above $1. For context, the Elliott Wave Theory can predict long-term price movement based on repeating patterns or…
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