Dogecoin’s $8 Dream: Don’t Snooze on This Chart! 😴💰

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In a world where the absurd meets the sublime, the venerable Cantonese Cat, after a prolonged silence, graced us with his presence on June 15. His livestream, a veritable feast of technical analysis, was dedicated to the long-term trajectory of Dogecoin. With a confidence that could only be described as audacious, he proclaimed, “This is still a cup and this is still a handle.” If this formation were to complete, he mused, the meme-coin could soar to heights “anywhere from like $5 to $8.” Ah, the sweet nectar of speculation, buoyed by the mystical intersection of GAN arcs and Fibonacci extensions that have dictated Dogecoin’s post-2020 odyssey. 🍵✨

As the analyst meticulously stripped the chart to its monthly timeframe, he banished the short-term noise that plagues the minds of lesser traders. He observed that Dogecoin had already flirted with the lower boundary of the Ichimoku cloud. Despite its initial failure to “penetrate the monthly cloud,” it continues to coil beneath it like a serpent waiting to strike. “Even if it goes sideways for another month or two,” he assured, “it’s going to enter the Ichimoku cloud one way or another.” A delightful paradox, indeed! Whether it ascends or merely lingers, the price is “forming higher highs and higher lows.”

At the heart of his conviction lies the 20-month simple moving average, a line he reveres as the backbone of every Dogecoin bull cycle. During the euphoric surge of early 2021, the price “rode the 20[-month SMA] up” without a single breach. When that moving average finally faltered, the bear market descended like a dark cloud over the land.

Today, Dogecoin perches precariously atop this very level. “It looks like we’re able to use that as support,” he declared, and this support zone—nestled just below the handle—doubles as a “buy zone” for those with the foresight of long-horizon traders. The analyst himself, in a moment of candor, revealed, “I was buying more DOGE the last 4-5 days.” A true believer! 🙏

Addressing the coin’s sluggishness since April, Cantonese Cat insisted that this compression is not a harbinger of doom but rather a constructive phase. He pointed out that Dogecoin is grinding just beneath the 0.5 log-scale retracement of the entire 2021–2022 decline, a behavior he interprets as “building up some energy.” The longer the coil, the sharper the eventual expansion, he argued, provided the higher-timeframe moving averages remain intact. A thrilling game of patience!

When pressed by viewers about timing, the analyst, with a twinkle in his eye, declined to offer a timetable. He reminded his audience that the breakout will almost certainly coincide with a broader alt-season. However, he did signal that the moment price re-enters the Ichimoku cloud would serve as the technical “green light” for acceleration. Once that occurs, the measured-move objective from the cup-and-handle and the GAN arc intersection converge in the $5–$8 zone—levels that would represent new all-time highs and yield returns of approximately 3,000–5,000 percent from current prices. A veritable gold rush awaits! 💎

“Anything that’s closer to the twenty-one moving average is a good area to add,” he concluded, cautioning newcomers against chasing sudden green candles. Instead, he urged them to accumulate methodically while the chart remains “boring.” The implication is clear: Dogecoin’s dormancy may be the final shakeout before the largest impulse of the cycle. Those who ignore the calm may indeed “regret sleeping on this chart” if—and only if—the structural signals Cantonese Cat tracks fall into place. A lesson in vigilance!

At press time, DOGE traded at a mere $0.177. A pittance, yet a promise of what could be! 🐕💸

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2025-06-16 12:08