Overview
- An Elliott Wave forecast generated by Grok and shared by analyst Cantonese proposes a wave‑3 run to $4.48–$5.76, with a theoretical stretch target near $48.55 under ideal bull‑market conditions.
- Dogecoin trades around $0.16, and a move to roughly $5.76 would imply a valuation in the $758 billion to about $840 billion range, far beyond what many observers view as realistic near term.
- Coverage stresses that Elliott Wave projections are speculative and subjective, with wave counts that can vary widely between analysts.
- Alternative outlooks highlight more moderate paths, including a multi‑year symmetrical triangle with checkpoints near $0.18, resistance around $0.30–$0.33, potential moves toward $0.35, and targets cited around $0.65 or $1.00–$1.20.
- Analysts emphasize dependence on broader market direction, with Bitcoin’s trend viewed as pivotal and $0.15 identified as key support for DOGE while some look for BTC stability above $100,000 before a sustained breakout.