Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5
Release: 2024/06/21 08:04 Reading: 602
- Original author：NewsBTC
- Original source：https://www.newsbtc.com/?p=625673
Dogecoin (DOGE) Projected to Soar: Analyst Predicts Godly Surge
Crypto expert Trader Tardigrade has presented insightful predictions for the future of Dogecoin (DOGE). His analysis suggests an impending god candle, potentially propelling the meme coin to unprecedented heights.
Massive Rally Expected to Drive DOGE to $7.5
In a social media post, Trader Tardigrade forecasted a surge that could push DOGE to $7.5. This prediction is based on the formation of a triangle consolidation, which historically precedes significant upward movements for Dogecoin.
Historical Patterns Support Bullish Narrative
Triangle consolidations have consistently occurred before parabolic rallies for Dogecoin, according to Trader Tardigrade. This analyst has maintained a bullish stance on DOGE, identifying various technical indicators that point to its potential for growth.
In previous posts, Trader Tardigrade highlighted a ladle pattern and parallel channel that Dogecoin tends to follow. These patterns suggest that the meme coin is poised for a major move, with predictions of a surge to $12 or even $17.
Current Sentiment Mixed
Despite the bullish projections, Dogecoin currently faces a bearish sentiment. Analyst Kevin (formerly Yomi OG) notes that DOGE has lost its daily moving averages, a negative sign in the short to medium term.
However, Kevin acknowledges a potential bounce if Dogecoin climbs above $0.132 and remains above the range of $0.10 to $0.11.
Current Market Position
At the time of writing, Dogecoin trades around $0.12, reflecting a decline over the past 24 hours (data from CoinMarketCap).
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