🚀 Dogecoin Primed for $1.9 Surge as WXY Correction Ends—Meme Coin Defies Gravity Again

Dogecoin's latest correction phase—dubbed 'WXY' by chartists—has finally exhausted itself, clearing the runway for what analysts claim could be a 5x moonshot to $1.90. Because nothing says 'sound investment' like a Shiba Inu-themed asset riding pure speculative frenzy.

### The Technical Setup

Three weeks of sideways chop resolved with a bullish breakout, confirming the completion of the WXY pattern. Retail traders are piling in while institutional players quietly roll their eyes—and hedge their bets with OTC derivatives.

### Meme Math at Work

The $1.90 target isn't plucked from thin air (okay, maybe a little). It aligns with the 161.8% Fibonacci extension level from the 2024 cycle low—a favorite pseudo-science among crypto speculators who think golden ratios justify gambling.

### Caveat Emptor

While the charts suggest upside, remember: Dogecoin's entire valuation still hinges on Elon Musk's tweet drafts and Reddit memes. Proceed accordingly—preferably with risk capital you'd otherwise spend on lottery tickets.

Dogecoin Price Rally To $1.9 Incoming

A TradingView crypto market analyst, known as HodlAhmad, has identified a major bullish setup for Dogecoin, forecasting that the meme coin will finally surpass the $1 mark and potentially climb to $1.99 in the coming months. With DOGE currently priced at $0.17, this projection would mark a solid 1,071% increase.

According to the analyst’s chart report, Dogecoin’s price action has just completed a distinct WXY corrective pattern, followed by an ABCDE triangle—an indication that the larger Wave 2 correction may have come to an end. This pattern is often a precursor to a powerful impulsive move, and in this case, signals the possible start of Wave 3, which is seen as one of the powerful and longest waves in the Elliott Wave cycle. 

Following the completion of Wave 2, HodlAhmad emphasizes that Dogecoin may now be entering the sub-wave 3 of Wave 3, a stage typically known for rapid pace expansion and strong momentum. This phase is considered one of the most aggressive portions of the Elliott Wave pattern and has historically delivered the most significant gains during bullish cycles. 

Based on Fibonacci Extension levels depicted on the price chart, the analyst projects a potential rally to the 2.618 Fib level near $1.99 and even higher to $2.72 at the 3.618 extension, if bullish momentum persists. Notably, reaching the upper target at $2.72 WOULD represent a strong 1,500% gain from Dogecoin’s current market price. 

Analyst Unveils 32RR Dogecoin Trade Setup

To capitalize on the anticipated breakout to $1.99, HodlAhmad has outlined a Doge trade setup with a targeted entry zone between $0.154 and $0.172. This range is supported by key Fibonacci Retracement levels at 78.6% and 6.18%, respectively, as well as previous breakout structures, making it a strong demand zone for accumulation. 

The analyst has placed this trade’s stop loss around $0.110, a level that could invalidate Dogecoin’s current bullish impulse wave count if broken. In this setup, the 24-hour trading volume of over $616.43 million, marked at the bottom of the chart, adds weight to the current accumulation zone, hinting at strong market participation just above the stop loss level. 

From this base, the price targets are set progressively higher, beginning with $1.27 at the 1.618 Fib extension, $1.99 at the 2.618 Fib, and $2.72 at the 3.618 extension. This setup, dubbed the “32RR trade” by the TradingView analyst, presents a significant risk-to-reward ratio for traders positioning for this projected price increase.