Since the beginning of June, Dogecoin (DOGE) has experienced a significant downtrend, shedding more than 22% of its value. Despite this downward momentum, analysts believe DOGE could be on the brink of a major bullish reversal based on technical indicators.
Crypto analyst Big Mike on an X (formerly Twitter) post has revealed a bullish forecast for DOGE that suggests the meme coin could surpass the $1 threshold in this bull cycle.
$DOGE / $USDT possible count into 2025 pic.twitter.com/ua71Njnklm
— BigMike7335 (@Michael_EWpro) June 30, 2024
The price prediction is based on the Elliott Wave theory, which is supported by a set of technical indicators.
Dogecoin’s path to $1
According to Big Mike’s analysis, DOGE could reach $1 by late 2024 to 2025. The Elliott Wave theory, a technical analysis tool used to predict market cycles and price movements by identifying recurring fractal wave patterns, forms the basis of this prediction.
The latest analysis of the DOGE/USDT wee
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