$8 Dogecoin? Analyst Says You’ll Regret Sleeping | Crypto News
Cantonese Cat’s first livestream in weeks, broadcast on 15 June, devoted an prolonged section to Dogecoin’s long-term construction—and the veteran technician was unequivocal about the upside he still sees. In his phrases, “this is still a cup and this is still a handle,” and if that formation completes he expects the meme-coin to break “anywhere from like $5 to $8.” That goal, he added, is anchored by the intersection of a month-to-month GAN arc and Fibonacci extensions that have ruled Dogecoin’s total post-2020 advance.
Dogecoin Price Could Hit $8
The analyst started by stripping the chart to its month-to-month timeframe and toggling off short-term litter. He famous that Dogecoin has already examined the decrease boundary of the Ichimoku cloud and, despite failing to “penetrate the monthly cloud” on the first attempt, continues to coil beneath it. “Even if it goes sideways for another month or two,” he stated, “it’s going to enter the Ichimoku cloud one way or another—you can either push up like that or you can just go sideways and you get inside the cloud.” Under either situation, the tenor stays constructive because the price is “forming higher highs and higher lows.”
Central to his conviction is the 20-month easy shifting average, a line he regards as the backbone of every main Dogecoin bull cycle. During the manic run of early 2021, price motion “rode the 20[-month SMA] up” without once breaking it; when that shifting average finally failed, the bear market ensued.
Today, Dogecoin sits on prime of the identical stage. “It looks like we’re able to use that as support,” he argued, and that assist zone—presently just below the deal with—doubles as what he calls a “buy zone” for long-horizon merchants. The analyst himself “was buying more DOGE the last 4-5 days,” he revealed via X.
Cantonese Cat also addressed the coin’s lethargy since April, insisting that the compression is constructive fairly than harmful. He pointed to the very fact that Dogecoin is grinding just beneath the 0.5 log-scale retracement of all the 2021–2022 decline, a behaviour he interprets as “building up some energy.” The longer the coil, the sharper the eventual growth, he argued, offered the higher-timeframe shifting averages stay intact.
Pressed by viewers about timing, the analyst declined to publish a timetable and reminded his viewers that the breakout will virtually actually coincide with a broader alt-season. He did, however, flag the second price re-enters the Ichimoku cloud as the technical “green light” for acceleration. Once that occurs, the measured-move goal from the cup-and-handle and the GAN arc intersection converge in the $5–$8 zone—ranges that would signify new all-time highs and ship returns of roughly 3,000–5,000 % from present costs.
“Anything that’s closer to the twenty-one moving average is a good area to add,” he concluded, cautioning newcomers not to chase sudden inexperienced candles but to accumulate methodically while the chart stays “boring.” The implication is obvious: Dogecoin’s dormancy will be the remaining shakeout before the most important impulse of the cycle, and those ignoring the calm could certainly “regret sleeping on this chart” if—and only if—the structural indicators Cantonese Cat tracks fall into place.
At press time, DOGE traded at $0.177.
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