Dogecoin Forms ‘Second Low’ That Could Cause 40x Rally Above $4

The biggest meme-based cryptocurrency by market capitalization, Dogecoin (DOGE), has established a second bottom, signaling a 4,000% rebound to new all-time highs above $4.

Dogecoin Second Low Could Lead to Big Gains
Crypto expert Trader Tardigrade notified his 55,100 X followers that Dogecoin had created a second bottom after reaching a key support level. He showed Dogecoin's price history from 2014, showing occasions when the meme currency established a first and second low after reaching a crucial support level, causing a big price spike.


From 2014 to 2017, Dogecoin gained support in 2015 and after a second low in 2017, a significant price rise occurred. Between 2018 and 2021, Dogecoin reached a vital support level in 2020, formed a second low in 2021, and then skyrocketed.

Trader Tardigrade wonders whether Dogecoin will follow this historical trend or not. The cryptocurrency struck a critical support level in 2023 and just set its second low, suggesting a sharp price surge.

The expert sees a resurgence on the price chart, indicating DOGE might rise 4,000% over $4 during this bull cycle.

When questioned by a crypto community member whether this bullish price breakthrough may occur on November 6, following the US Presidential elections and a possible Trump victory, Trader Tardigrade said, “Not a bad guess.”

The analyst remains positive about Dogecoin's future, noting in a prior X article that the market may have bottomed out and a huge bullish crossing is imminent.

Upside Possible With Bullish Divergence
A remarkable technical pattern in the Dogecoin price chart was found by popular crypto researcher Ali Martinez. Martinez said Dogecoin's 4-hour chart shows a positive divergence versus the RSI.

A positive divergence happens when a cryptocurrency's price falls while its RSI rises. This contrast indicates market strength, decreasing selling pressure that might reverse prices.

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