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In a monthly chart shared on July 8, crypto analyst Kevin (@Kev_Capital_TA) 
outlined a long-term bullish thesis for Dogecoin (DOGE), identifying a clear 
historical pattern that may signal the next major leg in its price trajectory. 
The focal point of the chart is the 1.618 Fibonacci extension—used as a key 
projection level—which Kevin implies is Dogecoin’s next major upside target. 
Based on the chart, this level corresponds to $3.94. History Says Dogecoin 
Will Hit $3.94 Dogecoin’s price action has followed a remarkably consistent 
macro-pattern across three major market phases. In each, DOGE formed a clear 
descending wedge, followed by an impulsive breakout and parabolic rally. These 
structures are annotated in yellow on the chart and preceded both the 2017 and 
2021 bull runs. The most recent wedge breakout completed in November last 
year, with a retest of the breakout currently taking place. Kevin marks two 
historical Fibonacci extension levels that were reached following previous 
consolidations. Both peaked near the 1.618 Fibonacci extension of their 
respective bases—a common target for extended bullish moves in technical 
analysis. For the current structure, this places DOGE’s long-term Fibonacci 
target near $3.94, which would represent a roughly 2,218% move from the 
current price around $0.17. Related Reading: Chartist Slams Misleading 
Dogecoin Analysis: ‘Focus On This Instead’ Indicators further support the 
notion of a long-term base having formed. The RSI (Relative Strength Index) on 
the monthly chart has just reclaimed the neutral 50 zone, currently sitting at 
50.39, a signal often interpreted as the transition from bearish to bullish 
control. In prior cycle, the monthly RSI always topped above 90. Notably, the 
monthly RSI is also in an uptrend since mid-2022, respecting the yellow 
trendline drawn by the analyst. A significant confluence comes from the 
Stochastic RSI, which has just completed a bottoming crossover in the oversold 
region. The last time this occurred, in early 2020, Dogecoin followed with a 
parabolic surge. This same dynamic now appears to be setting up again, echoing 
the previous cycle. Also noteworthy is the chart’s structural emphasis on 
0.382 Fibonacci retracement support, currently plotted at $0.13778, from which 
Dogecoin appears to be bouncing. This aligns with the green supertrend 
support, suggesting a critical local floor has been found. Related Reading: 
The $1 Dogecoin Dream Is Alive: Chartist Lays Out Parabolic Scenario While the 
purple zones on the chart above $0.50 are not formal price targets, Kevin 
clarified in a response to a community member that they are key resistance 
zones—intermediary checkpoints before DOGE can make a full move toward its 
final Fibonacci extension. These zones span from approximately $1.00 to $1.20 
as well as from $2.30 to $2.50, and eventually up toward the $3.94 range. 
Kevin emphasized that “as well as Dogecoin has done this cycle especially 
compared to other altcoins, it still has not even come close to what it is 
capable of. That will change in the right environment.” He further noted that 
Dogecoin has already seen a 10x move from its bear market low to the local 
highs, but believes “there’s still work to do” when the cycle of quantitative 
tightening by the US Federal Reserve ends. The chart and commentary triggered 
a strong community reaction. Users like @MonetaryRegimee declared “We always 
hit the 1.618,” to which Kevin replied, “Typically yes,” reinforcing his 
confidence in the fractal repetition. Others described the current price 
action as “the calm before the storm.” Whether Dogecoin ultimately fulfills 
its fractal-driven destiny toward $3.94 remains to be seen. But the historical 
technical symmetry laid out by Kevin’s chart offers a compelling case that 
DOGE’s long-term rally may be far from over. At press time, DOGE traded at 
$0.174. Featured image created with DALL.E, chart from TradingView.com

Dogecoin To $3.94 This Cycle? This Chart Says It’s No Meme

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