Dogecoin (DOGE) is back in the news, with its price up 150% this month alone. The meme-inspired cryptocurrency, long seen as a sign of people getting carried away with the hype, is once again getting the attention of analysts, including Peter Brandt, who has been trading the financial markets for over four decades now.
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While Brandt initially said that Dogecoin's chart shows an inverted head-and-shoulders pattern, which could mean that it is going back to its all-time high near $0.73, other market participants have come up with different ideas.
One follower made an interesting point: that DOGE could be forming an "upsloping flag," a technical pattern often associated with continuation trends. Brandt said that he saw that point of view as well. If the flag is completed, it could mean a price target of around $0.66, which would fit with the ongoing bullish momentum.
Yes, if completed this would be considered a running continuation flag
