DOGE’s Chart Pattern Hint Imminent Price Surge, New ATH in Sight Soon?
Release: 2024/07/14 22:19 Reading: 523
Dogecoin's Familiar Chart Pattern Signals Potential Gains
Analysts anticipate an 11,541% surge for Dogecoin (DOGE) if history repeats itself.
Similarities to 2020 Bull Run
In 2020, DOGE broke out of a descending triangle, followed by consolidation and a subsequent 28,770% surge. Currently, DOGE is exhibiting a similar pattern, having broken out of a descending triangle and entered a consolidation phase.
Price Targets
Analysts believe DOGE could experience a significant price surge, potentially reaching a new all-time high. Trader Tardigrade suggests a meteoric rise may occur with the next price spike.
Breaking Resistance at $0.089
DOGE recently broke through a critical resistance level of $0.089, as indicated by Bollinger Bands. Analysts anticipate this breakthrough could trigger a bullish surge towards a target price of $0.1.
Whale Accumulation
On-chain data shows that strategic whale investors holding at least 10 million DOGE tokens have been accumulating instead of selling during recent market dips. Santiment reports a cumulative whale balance of over 15 billion DOGE, suggesting whales are betting on its potential.
Cautious Optimism
While the chart pattern suggests potential gains, it's crucial to trade cautiously and make informed decisions.
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