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Introduction
Crypto analysts remain steadfast in their bullish outlook for Dogecoin despite the meme coin’s recent 50% price collapse. Both Hov and Ether maintain that DOGE’s macro target above $2 remains firmly in play, with technical indicators suggesting a third major bull wave may be loading. The cryptocurrency’s current attempt to reclaim the psychological $0.20 level comes amid renewed optimism from US-China trade developments and favorable economic data.
Key Points
- Analyst Hov maintains $2+ macro target for DOGE with potential $3 ATH by next year despite recent 50% price crash
- Current rebound to $0.19 driven by US-China trade optimism and positive September CPI data exceeding expectations
- Analyst Ether identifies technical setup for third bull wave with broken downtrend and 25MA providing support on higher timeframes
Analyst Hov's Unwavering $2+ Macro Target
Crypto analyst Hov has confirmed that his macro target for Dogecoin remains unchanged despite the recent market turmoil that saw DOGE crash from around $0.30 to $0.11. In a detailed X post, Hov maintained that his chart analysis still points to Dogecoin reaching above $2, with potential to rally to $3 by next year – which would mark a new all-time high for the popular meme coin. The analyst noted that Dogecoin’s price action has largely played out as expected, with DOGE correcting off the low after the significant downturn.
Hov’s analysis reveals that while the correction didn’t quite reach the lower support level, the move off the low appears ‘pretty corrective’ in nature. The analyst specifically highlighted that the focus will be on how Dogecoin’s price action develops over the next week to determine whether the C-wave corrective move is underway. Despite the possibility of sideways trading until year-end, Hov’s technical assessment maintains the same ambitious price targets that would represent substantial gains from current levels.
Current Rebound Fueled by Macroeconomic Factors
Dogecoin’s recent rebound to $0.19 represents a significant recovery from the lows triggered by former President Donald Trump’s announcement of 100% tariffs on China. The White House confirmation that Trump will meet China’s President Xi Jinping on October 30 at the APEC Summit has sparked optimism regarding a potential trade deal between the United States and China, providing crucial support for risk assets like cryptocurrencies.
Adding to the positive momentum, the September Consumer Price Index (CPI) data released yesterday came in lower than expectations, contributing to the bounce in Dogecoin’s price. This combination of improved US-China relations and favorable inflation data has created an environment where DOGE can attempt to reclaim the psychologically important $0.20 level – a crucial threshold that analysts believe could spark a more significant rebound for the meme coin.
Third Bull Wave Technical Setup Emerges
Analyst Ether has identified compelling technical patterns suggesting Dogecoin’s third major bull wave is on the horizon. In his X post analysis, Ether noted that DOGE experienced two major bull waves in 2017 and 2021, and the current setup indicates another bull wave is now loading. The analyst’s breakdown reveals that the long downtrend has been broken, with the retest now complete, creating a foundation for potential upward movement.
Ether’s technical assessment shows that the 25-day moving average on higher time frames has returned to support levels, while Dogecoin price is gathering strength in the lower band of a years-long ascending channel. Most significantly, the analyst stated that all technical indicators are ‘whispering’ the start of a new cycle, leading him to conclude that the third bull wave is a matter of when, not if. This technical alignment suggests Dogecoin may be positioning for another significant price appreciation cycle similar to its historical patterns.
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