Little-Known But Important Dogecoin Indicator Goes Off—How High Can It Drive Price?
The Gaussian Channel, a seldom-used but crucial indicator, suggests the Dogecoin price drop may soon end. Trader Tardigrade, a crypto expert, reported that the Gaussian Channel on the DOGE weekly chart flashed green, signaling the coin may rise during the next wave.
DOGE Gaussian Channel Shines Green
Compared to moving averages, RSI, and MACD, crypto specialists are less familiar with the Gaussian Channel. A Gaussian Channel depicts two normal distribution curves to highlight locations where the price is at extreme highs or lows compared to its previous range. DOGE's price has been known to rise when it hits the green zone of this lesser-known yet strong technology.
Analyst Trader Tardigrade uploaded a DOGE weekly chart on social networking site X showing the cryptocurrency in the Gaussian Channel's green zone. A strong surge upward may be coming after this optimistic event. Analyst: “When the time is up, #Dogecoin will surge incredibly.”
A closer look at the data shows two more times Trader Tardigrade found similar patterns for Dogecoin and the Gaussian Channel. DOGE began a multi-year journey in 2016 when the Gaussian Channel went green, achieving several all-time highs in 2018. DOGE skyrocketed in 2021 and 2022 to its current all-time high.
It Can Drive Dogecoin Price High?
No one can anticipate price objectives precisely. DOGE should be bullish over the next several years if history repeats itself. A spike might push DOGE over its all-time high into uncharted pricing territory, according to the expert. His most optimistic prediction is Dogecoin would reach $1 by 2025 from $0.73 current year. Over 5,100% higher than the current price, Trader Tardigrade set an ultimate price goal over $6.5.
Some of the greatest meme coin fans may find this ultra-bullish price objective impossible given DOGE's recent price behavior. DOGE is trading at $0.1235 and down 9.44% in the previous week despite a market downturn.
