Cryptocurrency analyst Trader Tardigrade has provided an update on the current price action of Dogecoin. The analyst revealed that the meme coin has marked a bullish crossover on its Moving Average Convergence/Divergence (MACD) and suggested where DOGE price could head next.
🧐Dogecoin is showing a bullish pattern🤑
In a post on X, Trader Tardigrade revealed that Dogecoin’s MACD has indicated a bullish crossover and the price structure is showing multiple higher lows along the recent bounce. The analyst noted that this suggests that DOGE has gained more buying power and may have completed a pullback.
Based on his analysis, Dogecoin price seems well-positioned to witness an upward reversal, having stabilized for about a month since the first phase of its bullish run. Trader Tardigrade’s accompanying chart showed that DOGE could rise to around $0.5 in the next phase of its bullish run.
Dogecoin could hit the double digits in this market cycle, as it appears to be repeating two subcycles from the 2017 rally. The first subcycle appears to have been the parabolic rally that Dogecoin recorded between October and early November. The crypto analyst suggested that DOGE could hit $30 when the second subcycle occurs.
Meanwhile, cryptocurrency analyst Master Kenobi suggested that the next Dogecoin price rally could start around December 30. He stated that the leading meme coin is likely to see red weeks between now and then. Master Kenobi suggested that these price drops are necessary. Meanwhile, he predicted that Dogecoin could either hit its all-time high (ATH) by December 30 or next month with Donald Trump taking office.
