Can Dogecoin realistically surge to the $20 region or higher? In a Elliott Wave Theory breakdown, crypto analyst XForceGlobal presented a case for why the popular meme-coin could continue its upward trajectory. He referred to Dogecoin as “the king of all meme coins” and emphasized that historical price action provides vital clues to its future, stating, “If a coin has long historical data to work with, it pairs very nicely with Elliott Wave theory because it helps reduce the impact of noise within the shorter time frames.”Pointing to Dogecoin’s massive rise from about $0.001 to its previous high of nearly $0.80, he highlighted the possibility that what appeared to be a “pipe dream” is now materializing into a tangible reality. The analyst said, “That to me is from a pipe dream to a reality,” underlining that such an extraordinary leap aligns with the concept of an extended Wave 3 within the Elliott framework. He outlined that markets tend to move in repeated cycles of five impulsive waves and three corrective waves, driven in part by collective investor psychology. According to him, “Elliott Wave theory only provides probabilities, not certainties,” but the longevity and depth of Dogecoin’s price history offer stronger credibility to the wave counts.Related Reading: Dogecoin Price Explosion: Chande Momentum Oscillator Puts DOGE As High As $5By examining the macro chart, he explained how Dogecoin may have completed a Wave 4, describing it as a “very rare looking triangle.” He proposed that a breakout from this formation could initiate a Wave 5 capable of surpassing the previous all-time high, potentially hitting a price level above $4. After labeling a potential five-wave advance from the coin’s historical lows to its peak near $0.80, he argued that the nature of the market’s psychological cycles suggests another large impulse is in play. He added, “We might be working for a larger extended wave three to the upside for the super cycle degree,” referring to the notion that Dogecoin’s broader trend remains intact despite periodic bearish phases.However, after hitting $4, the Dogecoin price could face a major correction, possibly in the range of 80% to 90 %, which would not necessarily invalidate the bullish narrative. In his words, “Even with a 90% pullback, it’s still extremely bullish… it’s crazy.” He asserted that such steep retracements often occur in crypto markets, yet as long as the underlying structure remains intact, the asset can still continue its macro uptrend.He anticipates that Dogecoin’s next major upward leg (following the correction) could place the price in a range that includes $12, $25, or even $30. One speculative figure he mentioned was $57, though he cautioned against viewing it as a guaranteed target. Instead, he reminded viewers, “Don’t blame me, blame the Elliott Wave theory…I am only a messenger.”Dogecoin Elliott Wave analysis | Source: @XForceGlobalRelated Reading
Lun. Gen 20th, 2025
