Can Dogecoin Break $1? Analyst Says It’s Almost There—Or Is It?

by

Ah, Dogecoin. The meme coin that refuses to go away, like the kind of relative who shows up at every family gathering uninvited. But here’s the latest from the ever-optimistic Maelius (@MaeliusCrypto). This week, he’s showing us a fresh chart of DOGE/USDT on Binance. And despite the recent dip in price (because, of course), he’s predicting a price surge, possibly heading toward that elusive $1.00 mark. Can we really believe it this time? Only time will tell—preferably a time when we’re all sitting on a beach with a drink in hand, laughing about it.

The Rollercoaster of Dogecoin’s Future

The chart in question follows each weekly candle since 2021—because, apparently, some people are dedicated enough to track every weekly fluctuation of a meme coin. As of now, DOGE is sitting pretty at $0.1843, following a four-week slide from its March high of $0.26. That drop? Well, it’s just brought the price back to a green “demand” zone, which previously acted as an obstacle. So, naturally, it’s now a base of demand. It’s like having a bad breakup with a place you swore off, only to find out it’s the perfect spot for a fresh start.

Maelius points to two moving averages framing the entire situation. The 50-week exponential moving average (EMA 50, in blue) is moving upwards, sitting at $0.205. Meanwhile, the 200-week EMA (red) is comfortably lounging at $0.1415. With DOGE trapped between these two averages, this could be the calm before the storm. Or it could be the calm before another few weeks of disappointment. Place your bets now!

For those brave enough to follow Elliott wave theory, Maelius has a fascinating count. The March 2024 spike to $0.23 is marked as the primary wave 1, and the drop to the October 2024 low near $0.12 is the primary wave 2. Apparently, we’re now in the early stages of wave 3. But wait—there’s a smaller wave 1 within this larger wave 1. If you’re still following, congratulations—you might just be the only one who understands what’s happening.

Maelius is convinced this will lead to the much-coveted wave 3 of wave 3, the most explosive of all movements in Elliott’s playbook. If all goes according to plan (and what are the chances?), this could mean a price surge to around $1.10 before a bit of a retreat to $0.65 and then a final blowout in the $1.50–$1.80 range. You know, the usual rollercoaster ride. Maelius himself admits that he’s not fond of “hard targets,” but hey, he’s optimistic that $1 is on the horizon. So, who are we to argue?

Meanwhile, the WaveTrend Oscillator (WTO) is showing signs of life. Both the fast (black) and slow (red) curves have bounced sharply off an oversold zone, while the histogram has started to contract in a promising way. In layman’s terms: DOGE might just be gearing up for a bullish surge. Or maybe not. Who’s to say?

At this moment, DOGE is clinging to the top of its demand box. If it manages a weekly close above $0.205, we might see a run towards $0.26—the high from May. If it drops below $0.14, though, well, it’s back to the drawing board for this coin.

As of now, DOGE is sitting at $0.18. A modest price to end the day… or is it? Only time, and likely the next meme-worthy tweet, will tell.

Read More

2025-06-09 14:58