đđ Why Dogecoin Price is About to Go Parabolic
đ Dogecoin Surges 5.5%
Dogecoin surged 5.5% to $0.144 during Saturday trading, outperforming the broader market. Elon Musk's mention of "D.O.G.E." at a Trump campaign event fueled renewed investor excitement, breaking a 4-month consolidation.
đ Parabolic Rally in Progress
DOGE has rallied 36%, driven by Muskâs influence and the breakout above $0.143 resistance. This mirrors a similar pattern from 2021, where a 29,111% surge occurred. If history repeats, DOGE could rally 700%, reaching $1.17.
đȘ Buyers Strengthening
DOGE reclaiming its weekly exponential moving averages (20, 50, 100, and 200) signals strong buyer momentum, suggesting further gains could follow.
đ Dogecoin: The âBitcoin of Memesâ
Crypto analyst DonAlt called Dogecoin the âBitcoin of memes,â highlighting its cultural significance. He hinted at a bullish future, reminiscing about his involvement with DOGE since 2014 and joking about ending his trading career with DOGE in 2025.
đ Possible Pullback Ahead
Santiment data shows Dogecoin's 30-day MVRV ratio at 19.7%, indicating traders are making gains. Historically, high MVRV values suggest a local market top. A pullback could occur, but staying above the 200-week EMA will be key to maintaining bullish momentum.
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