Dogecoin Nears First Weekly Golden Cross in Four Years: Potential for 200% Surge
Recent market activity indicates that Dogecoin is on the verge of achieving its first weekly golden cross since 2021, a significant technical milestone. This occurs when the 50-week moving average crosses above the 200-week moving average, historically signaling strong bullish momentum.
As of now, Dogecoin's price is hovering around $0.138, having more than doubled since the beginning of 2024. Maintaining this level above the 200-week moving average is crucial for the potential upward momentum. If it succeeds, analysts suggest that Dogecoin could see a parabolic rally, possibly reaching $0.42 with a 200% increase.
The last time a golden cross occurred in January 2021, Dogecoin experienced a dramatic price surge, coinciding with the meme coin craze. Should current conditions mirror those from 2021, there is potential for Dogecoin to break through several resistance levels, possibly setting new all-time highs by early 2025.
While no specific price targets have been set, the bullish sentiment surrounding the upcoming golden cross could ignite further interest and investment in Dogecoin.
Stay tuned for developments as Dogecoin approaches this pivotal point in its price trajectory.
