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.

根据加密分析师Javon Marks的说法，Dogecoin（加密：Doge）一直显示出与过去牛周期相似的“稳定积累阶段”。

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.

发生了什么：在最近的X（以前是Twitter）上的一篇文章中，分析师说，Doge与斐波那契的扩展水平有“良好的关系”，特别是1.618级别。

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.

根据Mark的说法，在先前的两个主要周期中，2014年至2017年（周期1）和2017年至2021年（周期2），Dogecoin超过了其在其熊市低点中各自的积累阶段测得的1.618斐波那契扩展。

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从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。这转化为从0.00009美元的转移到0.00748美元，代表从其周期低下的8,200％的增长超过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.

循环2遵循类似的结构，其中超过1.618 FIB水平的模式。最初，在2020年的大部分时间里，在长时间的熊市中，大部分大部分时间都在其0纤维基线左右合并。然后，在2021年初，模因硬币开始积极地涌现，首先将1.0延长水平收回在0.11773美元左右，并最终超过1.618的延期延期，延期为0.39921美元。这种突破的高潮在2021年5月达到了目前的历史高度约为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.

从分析师共享的图表中可以看出，当前的狗狗蛋白周期的斐波那契投影始于2022年的熊市低点0.06036。这个价格点构成了现在被跟踪为周期3的零基线。

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.

考虑到这一点，它将当前的1.618斐波那契扩展目标定为2.28008美元。值得注意的是，在Dogecoin的历史最高水平之后，已经确认1.0 FIB扩展水平为0.56953美元。达到这个目标目标将转化为比当前价格水平增长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：根据Marks，每个突破不仅超过了斐波那契水平，而且还重置了下一个宏观周期的基础。

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，超过2.28美元的成功举动将完成第三个完整周期，并为Doge的长期估值奠定了基础，即使在下一个熊市中也是1美元的门槛。

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

在撰写本文时，Doge的交易价格为0.1912美元，在过去24小时内增长了5.5％。