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Henrik Zeberg, a well-known macroeconomist, has made an intriguing prediction for Dogecoin (DOGE) based on technical analysis that suggests the cryptocurrency could experience a dramatic rise in price. Zebergโs forecast hinges on a common yet powerful chart pattern called the "Rounding Bottom," which could signal the start of a significant upward trend.
The Rounding Bottom is often a precursor to a reversal in market direction, typically indicating that an asset is gradually recovering from a decline and moving toward a bullish phase. Zeberg highlights that Dogecoin has followed this pattern in the past, with each cycle bringing higher levels of price movement leading into periods of euphoria.
According to Zebergโs analysis, a break above a key resistance level around $0.49 would mark a critical point, suggesting that Dogecoin is on the verge of a major upward movement. If this occurs, the price could rise significantly, with the expert pointing to several Fibonacci extension levels as potential targets. The first of these levels suggests a price of $0.4924, representing a 75% increase. The next level, at $0.8030, could result in a 180% gain.
Zeberg's boldest prediction places Dogecoinโs future price at $29, an astonishing 10,000% increase, should the market experience a phase of intense bullish sentiment. This target is based on historical trends, which have shown that market cycles can sometimes lead to extreme price gains.
While Zeberg cautions that no prediction is guaranteed, the current technical setup and historical performance of Dogecoin provide a compelling case for those anticipating a major rally. If the cryptocurrency breaks key resistance levels and sustains bullish momentum, the potential for significant gains is high.
