Dogecoin Gears Up for a Potential Breakout, Analysts Eye $2.28 Target

• DOGE shows signs of repeating its historical pattern with a Fibonacci target at $2.28
• Consolidation above key levels may set up breakout toward $0.50–$0.75 range
• On-chain outflows reflect caution, but resilience near $0.17 suggests possible recovery

Dogecoin (DOGE) is once again drawing attention from analysts and traders, as familiar market patterns begin to emerge. Trading at $0.1856 on June 9, the top meme coin is showing signs of repeating historical price behavior that, if it continues, could signal the start of another major rally. 

The core of the bullish thesis lies in a multi-cycle pattern where DOGE has consistently rallied to and beyond the 1.618 Fibonacci extension level. With a market cap of over $27.7 billion, Dogecoin appears to be in a critical consolidation phase, and analysts believe a breakout could be significant.

Historical Fibonacci Pattern Points to an Ambitious $2.28 Target

Crypto analyst JAVONMARKS highlights that in both previous bull cycles, Dogecoin exceeded the 1.618 Fibonacci level. In Cycle 1, this target was $0.0074, and in Cycle 2, it was around $0.039. Both were not only met but decisively broken. Now, Cycle 3 places …

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