Dogecoin To Moon? The Trading Guru Expects a Bullish Breakout—Here's Why
After seeing Dogecoin (DOGE), the biggest meme-based cryptocurrency by market capitalization, veteran commodities trader Peter Brandt suggested a bullish breakout.
Brandt posted a DOGE/USDT chart on X, pointing to DOGE's breakthrough from a downward channel it's been in for almost six months.
Found Dogecoin Bullish Momentum
DOGE, which had traded in a horizontal channel for two years between July 2022 and July 2024, fluctuated between $0.05 and $0.1181, according to Brandt's chart.
DOGE peaked at $0.2100 in March before falling. Signs suggest DOGE may be recovering from this decline.
Brandt called DOGE's longer-term chart “constructive,” saying, “Get along little doggie.” DOGE has been following the crypto market's upward.
The asset rose 8.2% to $0.1235 in 24 hours. This rising trend matches the market's positive attitude, but Brandt's technical analysis implies DOGE's breakout might start a longer upward trend.
Other DOGE Momentum Bullish Indicators
Not just Peter Brandt is positive about Dogecoin. DOGE looks to be strengthening, according to Ali, another notable crypto expert.
In an X post on September 26, Ali noted DOGE's RSI and price breakthrough from multi-month downtrends.
Additionally, SuperTrend gave the asset a buy signal. These findings suggest meme-based cryptocurrency is gaining steam.
