A new technical analysis by TradingShot suggests Dogecoin (DOGE) could reach $2 by mid-2028, despite expectations for additional downside pressure in the near term.
In a TradingView post published on July 23, TradingShot argued that Dogecoin remains in the latter stages of a long-term market cycle.
According to the analysis, the meme cryptocurrency is currently trading within Cycle 4 of its broader market structure and has yet to establish a definitive bottom.
The forecast comes as Dogecoin continues to trade below $0.10, extending a prolonged consolidation period since its 2021 peak. By press time, DOGE was trading at $0.07, down about 3.5% over the past week.
Before any major rally begins, TradingShot expects Dogecoin to face further downside. The analyst identified the upper boundary of the asset’s four-year support zone near $0.058 as the likely area where the current cycle could bottom.
Dogecoin price analysis chart. Source: TradingView
The analysis also noted that
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