Dogecoin Price Nearing First Weekly Golden Cross In 4 Years And Running 200%

Recent market dynamics have the Dogecoin price nearing a major moving average milestone. According to TradingView research, Dogecoin is set to achieve its first weekly golden cross in four years.

Dogecoin seldom exhibits this technical pattern, when the 50-week moving average crosses over the 200-week. According to history, the golden cross is a strong bullish indication, indicating the Dogecoin price may be about to soar.

Dogecoin Price nears Weekly Golden Cross
Weekly and daily candlestick analysis of Dogecoin price activity shows a golden cross. The golden cross is closer to completion on weekly candlesticks. This is the first golden cross since 2021, which is intriguing.

Keeping Dogecoin slightly above the 200-week MA is crucial to pushing the 50-week MA higher. Dogecoin might skyrocket if it holds this level in the next months. Dogecoin's price has more than doubled since 2024, so a golden cross might ignite a parabolic run before the year closes.

In January 2021, Dogecoin traded at $0.00317 and had its final weekly golden cross. Dogecoin rose to fame during the meme currency mania when this technical indication started a crypto market bull run.

Will DOGE Repeat This Rally With Weekly Golden Cross?

Dogecoin might have another great run if the present situation matches 2021's strong trend. If a similar momentum occurs, Dogecoin might shatter many price resistances by the end of 2024 and in the first few months of 2025, creating a new all-time high.

No price goal was set by the TradingView expert, indicating the reins would be open following a golden cross. However, a weekly golden cross might boost Dogecoin by at least 200%.

Dogecoin has fallen below $0.14 again in the previous 24 hours, trading at $0.138. Dogecoin might reach $0.42 with a 200% rally if it can stay above $0.14 and above the 200-week moving average.

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