This Time $DOGE Will Go For $1
In technical analysis, a golden cross occurs when a short-term moving average crosses above a long-term moving average, signaling a potential shift in market sentiment. Crypto analyst Trader Tardigrade, known for his insights on the social platform X, recently highlighted this pattern in Dogecoin's price action through the Moving Average Convergence Divergence (MACD) indicator, particularly below the zero line.
This golden cross in the MACD under the zero line indicates a shift from bearish to bullish momentum, often preceding a strong upward price movement. According to a 4-hour Dogecoin price chart shared by Trader Tardigrade, this is not the first such occurrence recently. In early November, a similar MACD golden cross was observed when Dogecoin was trading around $0.15 on November 4. This event triggered a bull run, culminating in a rally to $0.426 by November 12—a staggering 184% increase within eight days.
The historical impact of the November golden cross has fueled optimism for a potential repeat. If Dogecoin follows a similar trajectory, it could see a significant rally in the coming days. Based on Trader Tardigrade’s analysis and past price patterns, Dogecoin might aim for a target of $1 by December 7.
