Dogecoin is projected to climb to $2 by the middle of 2028, according to a recent technical analysis by TradingShot. Although the meme coin faces short-term declines, the long-term outlook remains optimistic.
TradingShot's analysis, shared on TradingView on July 23, places Dogecoin within the late phase of its fourth market cycle. The cryptocurrency has yet to hit a firm bottom and continues trading under $0.10, currently around $0.07, marking a 3.5% drop over the past week.
The analyst anticipates further downside before any sustained rally, identifying the $0.058 mark as a critical support level where the current cycle might find its bottom. The Cycle Score indicator, referenced in the analysis, historically shifts into a buy zone before major upward trends, suggesting that Dogecoin’s present correction could extend for some time, potentially dropping another 20% from current prices.
Long-Term Bullish Momentum
Despite the near-term bearish signals, TradingShot envisions a powerful second "Super Cycle" underway for Dogecoin. This phase has historically fueled the steepest price advances. The analyst explains that more than 1,000 days must elapse from the Cycle 3 peak for the final parabolic surge to start.
Following this trajectory and using the 0.618 Fibonacci channel as a reference, Dogecoin could reach approximately $2 by mid-2028. This forecast aligns with other technical studies that highlight 2028 as a key year for the cryptocurrency.
To hit that target from its current price, Dogecoin would require a price increase exceeding 2,700%. While this seems ambitious, the token has delivered similarly impressive gains during previous bull cycles.
