Dogecoin (DOGE) Historical Pattern Indicates a Major Rise
Dogecoin (DOGE), the largest memecoin by market cap, is facing strong resistance around $0.42. The memecoin has been trading between $0.38 and $0.42 for the past few days. This long period of consolidation could be followed by a price rally if a breakout occurs. Data from CoinMarketCap shows that the price of Dogecoin has dropped 9.3% on the seven-day chart.
However, analysts predict that the Dogecoin token could surge to $1 before the year is out. Crow published a price chart that showed the Dogecoin cryptocurrency following a similar price pattern during bull seasons. DOGE starts by creating a triangle formation before shooting up to new highs after a breakout.
This pattern is playing out in this cycle. The community is eager for a breakout. Another analyst named Dan Gambardello also predicts that Dogecoin’s USD price could rise to $1 in the coming weeks. The coin’s Relative Strength Index is currently above 50, which is a bullish sign.$DOGE
