Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5
20 Junho 2024 - 9:00PM
NEWSBTC
Crypto analyst Trader Tardigrade has provided insights into the
Dogecoin (DOGE) future trajectory. Based on his analysis, the
foremost meme coin could soon enjoy a god candle, sending its price
to unprecedented heights. Dogecoin’s Massive Rally Will Send
It To $7.5 Trader Tardigrade predicted in an X (formerly Twitter)
post that Dogecoin will rise to as high as $7.5 when it makes its
“huge surge.” He made this prediction while revealing that the meme
coin had formed a triangle consolidation, which is the last phase
of consolidation before Dogecoin made that massive move to the
upside. Related Reading: Cardano Bucks Bears As Large
Transactions Climb To $10 Billion, Can This Drive Price To $1? The
crypto analyst also revealed that these triangle consolidations
have formed in every market cycle and usually occur just before
Dogecoin enjoys a parabolic rally. Trader Tardigrade has been
bullish on DOGE for a while now and has continued to lay out
bullish narratives for the meme coin. In one of his previous X
posts, he highlighted a ladle pattern, which he claimed has always
formed for the meme coin in every cycle. He mentioned that “the
bowl” was ready and was almost time for the shaft. The chart he
shared showed that Dogecoin could rise above $2 once the shaft had
formed. In another post, Trader Tardigrade highlighted a
parallel channel that Dogecoin usually follows. He then claimed
that the meme coin’s next move would be “huge” while revealing that
DOGE had left the lower support line of the current channel. Based
on the chart he shared, Dogecoin could rise to $12 when that move
happens. Meanwhile, Trader Tardigrade isn’t the only analyst
who has alluded to Dogecoin’s historical patterns to predict the
meme coin’s future trajectory. Crypto analyst Javon Marks recently
predicted that Dogecoin could rise to as high as $17 based on its
historical breakout trend, in which the meme coin always enjoys a
larger run in every subsequent bull run. Dogecoin Current
Outlook Despite the bullish predictions made by these analysts,
Dogecoin seems to have a bearish sentiment around it at the moment.
Crypto analyst Kevin (formerly Yomi OG) revealed that DOGE has lost
all of its daily moving averages, which he noted is a “very bad
sign” for Dogecoin in the short to medium term if it cannot reclaim
these moving averages. Related Reading: Analyst Says XRP
Price Is Long Overdue For Bullish Wave, Here’s The Target The
crypto analyst added that Dogecoin had made a lacklustre bounce
after tapping the golden pocket down at $0.11. For now, he claimed
that the point of interest is Dogecoin climbing above $0.132 and
that it would need to hold above the range between $0.10 and $0.11
should the meme coin go lower. At the time of writing,
Dogecoin is trading at around $0.12, down in th last 24 hours,
according to data from CoinMarketCap. Featured image created
with Dall.E, chart from Tradingview.com
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