According to a crypto analyst, Dogecoin One of the top 10 altcoins) has entered a long-term bullish rally after experiencing a price crash and swift recovery. The analyst points out that Dogecoin has formed strong support above $0.1, leading to upward bounces during market downturns.
The coin has also undergone a long correction period, similar to the previous 900-day correction, which suggests a bullish rally is underway. The analyst identifies the D wave as the current phase, which historically leads to a price increase of at least 100%.
The price targets mentioned include $0.28 as the first target, followed by a retracement to $0.16 and then a rise to $0.38. At present, Dogecoin is trading above $0.16 with an 18.6% increase in the last week, holding its position as the 8th-largest cryptocurrency with a market cap of $24.18 billion.
Source: BITCOINST
