The analysis assesses Dogecoin's potential upside after a short-term reversal. The speaker identifies a micro support range, suggesting a possible five-wave move up. Though the micro-structure lacks clear movement, the analyst notes the potential for a bottom to have formed around August 25th. It's crucial for the price to hold above the August 25th low. To confirm the bullish scenario a break above the green lines is needed. The initial target is 0.2431, with a subsequent move towards 0.2565 possible if that level is cleared. The longer term upside target is around 0.28, aligning with the 100% extension level. Failure to hold a higher low may send the price to 0.20.