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Dogecoin is going to cause trouble again? Recently, trader and market commentator Cantonmeow (@cantonmeow) posted on the X platform (formerly Twitter) that Dogecoin (DOGE) may be preparing for the "third wave of surge"! He said that judging from the weekly chart, Dogecoin has regained its key technical position and may be moving from the "callback phase" to the "main rise". Free skirt + Q: 3914125409 No threshold, no charge ![]() This wave analysis is not just a casual comment, but is based on the classic Elliott Wave Theory. Simply put, this theory believes that market trends are often divided into five waves: 1️⃣ First wave: Price rebounds from the bottom; 2️⃣ The second wave: a correction or consolidation occurs; 3️⃣ The third wave: the strongest and craziest wave of rise; 4️⃣ The fourth wave: a short-term decline, which is a relay; 5️⃣ The fifth wave: the last period of the top trend. Now, Guangdong Cat believes that the third wave of Dogecoin may be coming!
According to Guangdongmao’s analysis, Dogecoin has begun to rebound from the bottom area after experiencing a long period of decline. He uses the common Fibonacci retracement levels on charts to determine price phases. Free skirt + Q: 3914125409 No threshold, no charge In technical analysis, Fibonacci lines are often used to determine the depth of market corrections, such as:
Guangdong Cat found that the second wave of Dogecoin’s correction fell exactly to the 0.382 range (about 0.117 US dollars), and then began to rebound and rose back to around 0.618 (about 0.200 US dollars). This is very critical! Because once the price stabilizes at the 0.618 level and is accepted by the market as support, it usually means that the market may be ready to enter the third wave, which is the strongest wave of rise! 🔥 Why is the “Third Wave” so important?In the Elliott Wave Theory, the third wave is the most violent and explosive stage. This wave is often accompanied by:
If Dogecoin is really about to start its third wave, as Guangdong Cat said, then the potential for this wave of gains may be far greater than expected. Judging from the projection of technical charts, Guangdong Cat gave several potential target areas:
These numbers may sound a bit far away, but historically once the Dogecoin market starts, the increase is often "exaggerated". Remember going from pennies to $0.7 in 2021? That time was a typical main Shenglang market. Free skirt + Q: 3914125409 No threshold, no charge 💡 Where is the key observation point now?The current price of Dogecoin is close to around $0.20, which is the gold support band of 0.618. Guangdong Cat pointed out that if the price can firmly close above $0.200 at the weekly level and start to appear:
Then it may be confirmed that the third wave of market is really starting! On the contrary, if the price falls below this range again and the trading volume shrinks, it may take some time for the market to fluctuate and bottom out, and the third wave will have to wait. 🧩 How to understand this type of wave analysis?For those who are new to the industry, Elliott Wave and Fibonacci may sound a bit metaphysical, but in fact, this logic is essentially the study of "market rhythm". It is not a 100% accurate prediction tool, but more like a "rhythm guide" - helping you judge whether you are in an adjustment, explosion or peaking stage. In the words of Guangdong Cat: “Dogecoin is recovering 0.618, and the third wave may be coming. The third wave is the strongest of all waves. ” 🚨 Summary: Opportunities and risks coexistThe current trend of Dogecoin does have a potential bullish structure. If $0.20 holds firm, the market may restart; However, if it falls back below $0.15, we still need to be wary of a deeper adjustment. For short-term traders, now is a critical observation period; For medium and long-term holders, this may be a signal confirming the trend reversal. ![]() |