Dogecoin (DOGE) Overview The current price is bullish, as technical indicators indicate a golden cross on the meme coin chart. Based on historyThis development could mark the beginning of a massive bullish rally for DOGE stock.
Dogecoin is about to reach the golden cross
Cryptocurrency Analyst Kevin (Formerly OG Yomi) Mentioned on X (Formerly Twitter) mail Dogecoin is two to three weeks away from seeing its first week. golden cross In four years. The analyst added that DOGE enjoyed a 6-month price rally and an 18,000% price gain the last time the meme coin saw a weekly golden cross.
A golden cross occurs when the 50-day moving average (MA) rises above the 200-day moving average. This technical indicator is considered a bullish signal because it typically indicates Strong bull marketAs such, Dogecoin’s weekly golden cross will confirm that an imminent parabolic rally is looming for the leading meme coin.
Dogecoin has so far failed to show any significant strength in this market cycle even as other leading mee coins like Pepe (PEPE) continue to make new highs. However, cryptocurrency analysts like Crypto Kaleo have shown that Confirmed The “King of Memes” is not going to be left behind in this rally and they predicted that DOGE will have its moment.
Cryptocurrency Analyst Javon Marks He also recently gave a bullish account of Dogecoin, stating that the meme coin’s recent pullback is more like a shakeout and that DOGE is almost ready for a massive rally to $0.6533. Marks claimed that this price target is in play as DOGE is holding up well above the resistance trend. The analyst added that it is only a matter of time before Dogecoin enjoys this more than 378% price surge.
Interestingly, Marx also raised the possibility that Dogecoin rises to $1.25indicating that a breakout or hold above the initial price target at $0.6533 will push DOGE to these heights.
Final pullback before DOGE stock hits $1
Crypto Kaleo was proposed in X Post Dogecoin may suffer one last pullback before hitting $1. He noted that it is still “a bit early” for DOGE to have that.face melting pumpBased on previous sessions regarding Bitcoin halving The event. However, the analyst added that the pump will eventually happen and called for more patience from DOGE investors.
As for how low it is Dogecoin It may fall, Crypto Kaleo suggested that Dogecoin may suffer a similar decline to what happened after Spot Bitcoin ETFs Launched In January, but the analyst claimed such a pullback would not be “crazy in the big picture.”
Interestingly, Crypto Kaleo And expect That Dogecoin could drop to $0.08 before hitting $1. However, some of his followers disagreed with him, The argument This is unlikely to happen considering that $0.08 was the lowest level of the meme coin’s bear market and the market is still in an uptrend.
Featured image created using Dall.E, chart from Tradingview.com