Will DOGE Price Soon Reach a Significant Increase: Analysts Predict It Will Rise to $2.28

Analysts currently claim Dogecoin (DOGE) is in its third major price surge cycle, creating a pattern that could revisit its historical price volatility. Based on the Fibonacci extension level, analysts predict that the value of Dogecoin will increase significantly. This cryptocurrency is expected to rise by 405%, or approximately 1.618 Fibonacci extension level, reaching $2.28. Another tweet from the expert on December 26, 2016 further confirmed the optimistic psychology of this consistent trend in previous cycles. Unlike last time, expectations are even higher now, with prices forecasted to increase by over 570% compared to the current level. However, according to him, the Fibonacci levels, mainly the 1.618 point, play a crucial turning point for financial assets, acting as a high or low point. The ability to consistently increase beyond (and then return below) this level in previous cycles brings reliability to this cycle. Please provide the text to be translated DOGE Price, Current Market Conditions Dogecoin (DOGE), trading at $0.3156 at the time of press, has decreased by 7.04% in the past day. The market capitalization is $46.5 billion, reflecting the 7.04% decrease. The trading volume in the past 24 hours is about $2.68 billion, a decrease of 16.98%, indicating a decrease in trading activity. CoinMarketCap shows the downward trend of Dogecoin in the past 24 hours, dropping from around $0.3395 to $0.316. The price continues to decrease without significant recovery, indicating pessimism among traders. With the current trend, the short-term market prospects for Dogecoin may still be cautious or decline.

Short-term Forecast and Prospects On the hourly chart of Dogecoin against Tether (USDT), it seems to be trading within a narrow range and actively consolidating. On the other hand, we can see that the price of DOGE is fluctuating around the $0.32 level. These are recent fluctuations that have been limited to a range of $0.318 to $0.324 around the consolidation phase after a significant downtrend. Regarding the Mass Oscillation Department, we can see that the trading volume is lower, currently at 15.79% compared to previous phases. As long as the volume decreases during this consolidation process, it often indicates a lack of strong confidence from buyers or sellers. However, it can help predict a sudden volatility, as one side is likely to regain control. The short-term resistance level is below $0.324, while the consolidation zone is below $0.324. Over the past few days, we have observed a support level forming near the $0.318 mark, preventing further decline. This range is so narrow that we are about to break through. Please provide the text to be translated. The short-term price decline is indicated by the fluctuation in the consolidation phase. Traders are cautious as higher and lower levels are missing compared to the recent trend. To reverse the uptrend, the DOGE price must overcome the resistance level of $0.324 with additional trading volume. This could attract buyers, helping the price rise to a new resistance level. The downward trend may continue if Dogecoin breaks below the $0.318 support level with significant volume. This opens up the possibility of lower prices and further testing of support levels on the chart.