Dogecoin bullish signal sounds the alarm, can DOGE trigger a retaliatory rebound frenzy?
DOGE open contracts surged 5.38% like a rocket, breaking through the 2 billion dollar mark, and market enthusiasm instantly soared. Its price rebounded nearly 20% from the low of 0.2685 dollars at the beginning of the week, laying the groundwork for a subsequent parabolic rise.
As of the time of writing, Dogecoin rose another 2% to 0.32 dollars, and its market capitalization followed suit, soaring over 47 billion dollars. Last week, the Federal Reserve's hawkish shift caused a sharp drop in interest rate cut expectations for 2025, leading to widespread despair in the cryptocurrency market, and Dogecoin was not spared, closing the week down 20%. But in my view, the dawn of Dogecoin's rebound is already visible.
The TD Sequential indicator on the daily K-line chart for DOGE has triggered a buy signal, indicating that its price may experience a reversal.
The buy signal generated by this tool on DOGE perfectly aligns with my previous analysis, suggesting that DOGE is likely to embark on a parabolic rebound journey, undoubtedly adding a very optimistic hue to the market's outlook on this meme coin, and giving investors more eager expectations and yearnings for its future trend.
Looking closely at Dogecoin's past price trajectory, this meme coin may ignite another surge. Reflecting on past parabolic trends, in 2017, DOGE first surged by 212%, then underwent a 40% pullback before launching into a crazy rise of 5000%; in 2021, after a 476% increase and a 56% retracement, it astonishingly reached a 12000% rise; by 2024, it had achieved a 440% increase with a 46% pullback. If history repeats itself, the next round of explosion is just around the corner! According to the chart, DOGE is expected to challenge the high of 18 dollars.
At this moment, Dogecoin's open contracts are strongly climbing, with a 5.38% increase helping it break through the 2 billion dollar ceiling.
How significant is Elon Musk's energy in helping Dogecoin reach the historic milestone of 1 dollar?
Especially with Donald Trump's term about to begin and Musk taking on the role of co-chairman of the DOGE organization, the situation is full of uncertainties, sparking widespread market discussion.
