Fibonacci Maps Dogecoin Path To $23—Is It Too Far-Fetched?

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Once again, the curious amusement of Crypto-Twitter finds itself wrapped around the dubious tail of Dogecoin. Our dear friend, the pseudonymous technician known as Cantonese Cat (@cantonmeow), has laid out a logarithmic Fibonacci map for our beloved meme-coin’s fourth bull cycle, as if has just drawn a treasure map in the sand on the beach, certain that an untold bounty awaits if only fortune would be so kind. 🐱💰

Dogecoin to $23?

As of Friday’s closing whispers, DOGE was scooting about at the nearly princely sum of $0.20—an oh-so-poetic embrace of the 0.5 retracement, a mere whisper away from the sacred number of $0.19049. The chart displays the price nestling comfortably within a vintage three-year ascending channel, reminiscent of an old, well-loved sofa whose support seemed eternal since the great capitulation of June 2022. As volatility takes a genteel bow, we witness the emergence of a broadening wedge, quite content to honor every golden-ratio diagonal that it encounters. Certainly, who could resist a golden touch? ✨

Cantonese Cat, with the air of someone who has just discovered a new flavor of tea, begins with Fib 0 at $0.04909, followed by a luxurious parade of resistances: 0.618 at $0.26232, 0.707 at about $0.33, 0.786 at $0.41368, and then, oh my, 0.886 at $0.54253. The grand finale takes shape as the 1.0 line, where Dogecoin reached its May 2021 heights—a delightful upper boundary of the illustrious “first liquidity wall.” And what awaited beyond? Blue extensions that seem to mock previous cycles: $1.54518, $2.27089, and the grand spectacle at $3.94842! Alas, projections at $11.12397 and the eye-watering $23.25744 linger likefigments of a fever dream. If liquidity flows like a river in spring, perhaps dreams can indeed manifest. If not, well, they remain just that—dreams. 😅

Diagonals run rampant across the canvas, weaving time and ratios into a beautiful tapestry of support and resistance, but alas, the market rarely cares for metaphors. Our brave analyst, like the faithful storyteller, claims that the current weekly candle pokes cautiously at that rail, reflecting the analyst’s Ichimoku vision that DOGE remains quite polite under Tenkan resistance. Perhaps this candle is very much like us at a party, wanting to mingle yet unsure how to make a move. Will it dance past 20 cents after grappling with resistance? Only time will tell. 🕺

The longer view seems to provide a semblance of hope; on the two-month chart, DOGE reveals what another technician—ManehattanStonk—labels a “rising three methods” formation. A curious name for what might as well be a rock concert’s encore. All this while, volume dynamics chortle in the background, with selling deemed “pathetic,” as if to say: “Who’s selling DOGE? Surely not anyone worth remembering!” Just a smattering of volume, and who knows? This rocket might just find its way to the moon! 🌙🚀

Yet, whether this celestial voyage to $23 is possible, Cantonese Cat’s verdict is decisively blunt: “I don’t think it’s going to $23 this cycle.” A sentiment echoed like an old woman admonishing a child, warning against reaching too high. Fib projections may prance with mathematical elegance, but alas, they are mere vassals to liquidity conditions that are forever eluding our understanding. The $3.94 zone, marked by the noble 1.618 Fibonacci extension, remains a target of credible aspirations. And lo! In past bull cycles, dear reader, Dogecoin has often ventured to this very summit.

As the clock ticks, DOGE trades at $0.20575, evoking a slight chuckle as if it were merely a jester in the court of finance. 😂

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2025-07-14 14:59