Dogecoin (CRYPTO: DOGE) has been showing a "steady accumulation phase" similar to what was seen in past bull cycles, according to crypto analyst Javon Marks.

根據加密分析師Javon Marks的說法，Dogecoin（加密：Doge）一直顯示出與過去牛週期相似的“穩定積累階段”。

What Happened: In a recent post on X, formerly Twitter, the analyst said that DOGE has a "great relationship" with Fibonacci extension levels, specifically the 1.618 level.

發生了什麼：在最近的X（以前是Twitter）上的一篇文章中，分析師說，Doge與斐波那契的擴展水平有“良好的關係”，特別是1.618級別。

According to Marks, in the two previous primary cycles, 2014 to 2017 (Cycle 1) and 2017 to 2021 (Cycle 2), Dogecoin exceeded the 1.618 Fibonacci extension measured from its respective accumulation phases in their bear market lows.

根據Mark的說法，在先前的兩個主要周期中，2014年至2017年（週期1）和2017年至2021年（週期2），Dogecoin超過了其在其熊市低點中各自的積累階段測得的1.618斐波那契擴展。

In Cycle 1, DOGE went from a 0 Fibonacci level in the 2015 bear market low to a peak above the 1.618 Fibonacci level in 2018. This translated to a move from $0.00009 to $0.00748, representing an increase of more than 8,200% from its cycle low.

在周期1中，Doge從2015年熊市的0斐波那契水平升至2018年斐波那契水平的高峰。這轉化為從0.00009美元的轉移到0.00748美元，代表從其周期低下的8,200％的增長超過8,200％。

Cycle 2 followed a similar structure, where the pattern of surpassing the 1.618 Fib level held true. DOGE initially consolidated around its 0 Fib baseline near $0.00168 throughout most of 2020 during a prolonged bear market. Then, in early 2021, the meme coin began to surge aggressively, first reclaiming the 1.0 extension level around $0.11773 and eventually moving beyond the 1.618 extension of $0.39921. This breakout culminated in Dogecoin reaching its current all-time high of approximately $0.7326 in May 2021, a 43,000% increase from its cycle low.

循環2遵循類似的結構，其中超過1.618 FIB水平的模式。最初，在2020年的大部分時間裡，在長時間的熊市中，大部分大部分時間都在其0纖維基線左右合併。然後，在2021年初，模因硬幣開始積極地湧現，首先將1.0延長水平收回在0.11773美元左右，並最終超過1.618的延期延期，延期為0.39921美元。這種突破的高潮在2021年5月達到了目前的歷史高度約為0.7326美元，比其周期低43,000％。

As seen from the chart shared by the analyst, the Fibonacci projection for the current Dogecoin cycle begins at the 2022 bear market low of $0.06036. This price point forms the zero baseline for what is now being tracked as Cycle 3.

從分析師共享的圖表中可以看出，當前的狗狗蛋白週期的斐波那契投影始於2022年的熊市低點0.06036。這個價格點構成了現在被跟踪為周期3的零基線。

With this in mind, it places the current 1.618 Fibonacci extension target at $2.28008 for the ongoing cycle. Notably, the 1.0 Fib extension level was already confirmed at $0.56953 following Dogecoin’s earlier all-time high. Reaching this price target would translate to a 3670% increase from the current price level.

考慮到這一點，它將當前的1.618斐波那契擴展目標定為2.28008美元。值得注意的是，在Dogecoin的歷史最高水平之後，已經確認1.0 FIB擴展水平為0.56953美元。達到這個目標目標將轉化為比當前價格水平增長3670％。

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What Next For Dogecoin: According to Marks, each breakout not only exceeded the Fibonacci level but also reset the base for the next macro cycle.

Dogecoin的下一步：根據Marks，每個突破不僅超過了斐波那契水平，而且還重置了下一個宏觀週期的基礎。

Hence, a successful move above $2.28 would complete the third full cycle and lay the groundwork for DOGE’s long-term valuation above the $1 threshold even in the next bear market.

因此，超過2.28美元的成功舉動將完成第三個完整週期，並為Doge的長期估值奠定了基礎，即使在下一個熊市中也是1美元的門檻。

At the time of writing, DOGE trades at $0.1912, up 5.5% in the past 24 hours.

在撰寫本文時，Doge的交易價格為0.1912美元，在過去24小時內增長了5.5％。