Usman Salis
Dogecoin just did something important - it hit the exact target analysts were watching for months. The meme coin touched its wave C projection between $0.297 and $0.334, validating the Elliott Wave count that More Crypto Online had been tracking. But here's the thing: even though DOGE reached this major milestone, the chart structure suggests this might not be the end of the party.
Current Price Action
DOGE has completed its anticipated circle wave C, landing right in the Fibonacci extension sweet spot around $0.33. This confirms the bullish impulse played out exactly as the technical playbook suggested. However, the micro-structure shows potential for another leg higher if the right conditions align.
The key question now is whether DOGE can hold its ground. The short-term support sits between $0.254 and $0.281, which represents the 23.6% to 50% retracement zone. If this area holds, bulls could have enough fuel for another push toward $0.37 in the next Elliott Wave cycle.
What Could Go Wrong
If support fails, things get interesting fast. A break below $0.254 opens the door to deeper corrections toward $0.227 or even $0.209. Both levels remain technically valid within the wave structure, so they'd actually be healthy spots for a bounce if we get there.
The Bigger Picture
This DOGE rally fits perfectly with what's happening across crypto. Meme coins are catching fire again as retail enthusiasm picks up steam. Risk-on sentiment is driving capital rotation into altcoins, and DOGE is benefiting from that broader momentum shift.
Conclusion
Dogecoin delivered on its technical promise by hitting the wave C target, but the next few days are crucial. Hold support at $0.254-$0.281, and we could see another run toward $0.37. Break it, and a deeper pullback becomes the more likely scenario. Either way, DOGE has proven the Elliott Wave analysis was spot on.
Usman Salis
