Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention
02 Janeiro 2024 - 1:00PM
NEWSBTC
Crypto analyst Jaydee has made a bullish case for Dogecoin (DOGE)
as he outlined several reasons why a significant price breakout may
be on the horizon for the foremost meme coin. DOGE’s price saw a
370x gain the last time the indicators Jaydee highlighted
materialized. Why Crypto Investors Should Pay Attention To
DOGE In a post on his X (formerly Twitter) platform, Jaydee noted
three things that usually happen on the charts prior to DOGE
experiencing a price breakout. The first indicator he mentioned was
the Moving Average Convergence Divergence (MACD). According to him,
There is always a MACD bullish cross before DOGE sees a parabolic
move. Related Reading: XRP Price Surge: Crypto Analyst Predicts
Various Bullish Scenarios In The Coming Days Source: X If so, then
the Dogecoin rally may happen soon enough, as the crypto analyst
mentioned that this indicator has been checked, suggesting that the
bullish cross already happened. The second indicator he highlighted
was the Average Sentiment Oscillator (ASO). There is usually an ASO
cross before the meme coin makes a significant move to the upside.
However, unlike the MACD bullish cross, which seems to have already
happened, this indicator is yet to materialize, as Jaydee stated
that he is still awaiting this. This indicator looks like the only
thing that is holding the potential DOGE breakout since the last
and third indicator the crypto analyst referenced has already been
“checked,” too. This third indicator is DOGE’s price breaking out
of its multi-year trendline. From the accompanying chart, which the
analyst shared, DOGE saw parabolic moves in 2017 and 2021 when this
happened. 2021 also happened to be the year that the meme coin rose
to its all-time high of $0.7. With a parabolic move on the horizon,
Jaydee remarked that he will be paying attention to DOGE for the
next months. Everything seems to be pointing to a bullish move for
the meme coin, as the crypto analyst also stated that DOGE’s “chart
structure is amazing.” DOGE bulls gaining control | Source: DOGEUSD
On Tradingview.com A DOGE Rally Is Long Overdue DOGE’s price has
been pretty tepid for a while as it continues to trade around the
$0.09 price range. This shows that the meme coin is long overdue
for a massive rally. That could happen soon as some price
predictions hinted that 2024 was going to be a massive year for the
crypto token. Related Reading: Tellor (TRB) Leaves Market In
Shock With 75% Price Crash, Here’s What Happened Crypto analyst
Captain Faibik, in particular, had predicted that DOGE would see an
“epic pump” this year that would see it revisit its all-time high.
A move of such magnitude means that the crypto token could see a
massive gain of 900% Meanwhile, Dogecoin is still on course
to head to the moon as the ULA’s Vulcan Centaur Rocket, which would
be carrying a physical Dogecoin, is scheduled for launch on January
8. Such development could potentially spark a surge in the crypto
token’s price upon takeoff. At the time of writing, Dogecoin
is trading at around $0.09286, up over 3% in the last 24 hours,
according to data from CoinMarketCap. Featured image from
Bankrate, chart from Tradingview.com
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