Dogecoin (DOGE) has recently seen an important technical analysis signal – the golden cross, which is generally seen as a bullish signal.

The golden cross is a technical analysis term often used in the stock and cryptocurrency markets to predict a potential bullish trend. In the case of Dogecoin (DOGE), the golden cross occurs when the 50-week simple moving average (SMA) crosses above the 200-week SMA. This pattern is often seen by technical analysts as a signal of a long-term uptrend.

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According to historical performance, the last time Dogecoin had a golden cross was in May 2021, and in the following six months, the price soared by more than 18,000%, from $0.003 to a peak of $0.75 per coin. If history repeats itself and the golden cross is accompanied by similar price action, the price of Dogecoin could reach approximately $23.40 per coin, which would give Dogecoin a market value of more than $3.48 trillion.

Well-known analyst Altcoin Sherpa believes that the coin is preparing for the next bull run, which could bring huge returns. Moreover, the analyst believes that the market capitalization of the coin could reach the same level as during the last bull run. Therefore, the next bull run could even push the price above $0.5. However, according to the analyst, it may take another 6 to 12 months for the coin to do so.

The Dogecoin price rebounded from the mid-term low of $0.1 and surged to breakout of the bearish pattern. Despite the gains, the buying volume remains limited to a certain range, which may raise concerns about the future trend. However, the RSI remains high after rebounding from 50, which suggests that a new bullish period is about to begin. Therefore, given the recent upward trend, it is believed that the Dogecoin price will maintain a strong upward trend thereafter.