Analyst: Dogecoin Could Surge to $5, Technical Pattern Similar to BTC and XRP

According to BroadChain, at 08:16 on April 18, NewsBTC reported that an analyst from the YouTube channel High Altitude Investing pointed out that Dogecoin (DOGE) may be preparing for a significant surge. The combination of its short-term technical signals and long-term chart patterns resembles the structures seen before Bitcoin and XRP's previous breakouts. In a video on April 17, the analyst suggested that DOGE's correction may have concluded, with a target price potentially exceeding $2. If the long-term trend continues, a more aggressive target range could be $3 to $5. The short-term basis lies in the daily chart completing a "perfect ABC correction" and the MACD showing a bullish divergence, forming a "very strong buy signal"; the 45-minute chart has already broken through a triangle pattern. The long-term argument is based on the 10-day K-line chart indicating that the MACD is deeply oversold, and its trend closely aligns with the "fractal patterns" observed before Bitcoin's surge in 2021 and XRP's rise in 2024. Using Fibonacci extension analysis, the analyst noted that DOGE "could easily rise to the 3.618 extension level" (corresponding to a price above $2), and in the long term, it might even reach the 5.618 or 6.618 extension levels. He emphasized that DOGE ranked eighth in trading volume over the past 30 days, indicating sufficient liquidity and making it less likely to be marginalized during overall market expansion. His core argument is that cryptocurrencies are still in a long-term growth phase, and if the market enters another upward cycle, DOGE is expected to participate. As of press time, DOGE is trading at $0.10.