A Possible Ascending Triangle Could Push Dogecoin Price To $0.6

Dogecoin's price chart suggests an ascending triangular pattern that might boost its price. In an X (previously Twitter) post, a crypto expert said the meme currency may rise to $0.56 if it forms this positive technical pattern.

According to crypto expert Rekt Capital, Dogecoin's price chart may be creating an Ascending Triangle pattern, indicating a breakthrough to $0.56. When a cryptocurrency breaks the top horizontal trend line and volume rises, an Ascending Triangle emerges. As a continuation pattern during an upswing, this technical signal is positive.

Rekt Capital's Dogecoin chart shows a possible Ascending Triangle formation after DOGE's latest price increase in Q4. As meme currencies became popular, Dogecoin rose from $0.2 to nearly $0.4 this month.

According to the researcher, the Ascending triangle formation might boost this positive trend. If the Dogecoin chart pattern is an Ascending triangle, Rekt Capital predicts a price rise to $0.569.

Dogecoin's triangular structure might boost investor confidence and drive money into other meme currencies, the expert says. A Dogecoin price increase affects other meme currencies like a Bitcoin price rally affects lower-cap altcoins.

Meme currencies like Shiba Inu (SHIB), Pepe (PEPE), and others typically follow Dogecoin's positive trend, rising in price when DOGE's impetus waned.

Rekt Capital says Dogecoin must close a daily candle above $0.43 barrier to validate the Ascending Triangle pattern. The meme currency must trade above this level to reach $0.56 or greater.

Bluntz also said the DOGE/BTC combination has performed well this year and will reach a new high this cycle. Currently at 0.00000436, the expert predicted a 373.68% climb to 0.00002 at the 1.618 Fibonacci level.

Dogecoin is at $0.42, up 6.5% in 24 hours after falling over 6% in the preceding week. CoinMarketCap also shows an 82% increase in Dogecoin daily trading volume, indicating investor interest.

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