Can Dogecoin replicate its 2021 bull run? Key metrics suggest…
Release: 2024/07/15 06:04 Reading: 720
- Original author：AMBCrypto
- Original source：https://ambcrypto.com/?p=406922
Dogecoin's Historic Pattern May Signal a Surge in 2025
Low Activity Mirrors 2021's Pre-Rally Phase
Dogecoin's (DOGE) activity has declined to levels similar to those observed in March 2020, according to data from AMBCrypto. During the subsequent nine months, DOGE soared from $0.01 to $0.65.
Historical Pattern Suggests Potential Rally
While history may not always repeat itself, patterns often rhyme. If the historical pattern recurs, DOGE could embark on a parabolic rally starting around March or April 2025.
Early Price Increase Possible
Alternatively, the price increase may commence earlier than anticipated. As of publication, DOGE is trading at $0.11, representing a 62.36% gain over the past year.
Technical Indicators Point to Bullish Momentum
The 200-day Exponential Moving Average (EMA) is below DOGE's current price, indicating that the potential surge has not yet begun. However, the price is close to surpassing the 20-day EMA, which could trigger an upswing.
Increased Money Flow Signals Buying Pressure
The Chaikin Money Flow (CMF) has risen above the signal line, indicating increased buying pressure. This suggests that DOGE could potentially gain 27.56% to reach $0.13.
Bullish Indicators Support Price Surge
The Bulls and Bears indicators show that those buying 1% of DOGE's total volume have been outpacing those selling. Should this trend continue, the $0.13 target may be achieved in the short term.
Long-Term Potential Remains Bright
Irrespective of short-term market fluctuations, DOGE's long-term outlook appears optimistic. However, investors should be cautious of potential selling pressure that could lead to a retracement to $0.10.
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