Can DOGE repeat the bull run of 2021? Key indicators reveal clues...
Recently, DOGE's market performance has attracted attention. According to AMBCrypto analysis, the number of 24-hour active addresses of the meme coin has dropped to 40,000, which is comparable to the level of network activity recorded in March 2020. It is worth noting that in the following nine months, DOGE started a wave of surges from $0.01 to $0.65, spanning from January to May 2021.
History does not necessarily repeat itself, but patterns often have similarities. If this historical pattern is repeated, DOGE may start a parabolic rise in March or April 2025.
As of now, the price of DOGE is $0.11, up 62.36% in the past 365 days. However, despite the increase, DOGE is still down 84.56% from its historical high.
If similar situations happen again, the price of the coin may break through the historical high before the end of the cycle. But another important indicator is the 200-day exponential moving average (EMA) of the coin price.
EMA is used to measure the trend direction over a period of time. Currently, the 200-day EMA (yellow line) is still above the DOGE price. If the price can break through this line, it means that the bull market has started. However, the price has not yet broken through, but it is close to breaking through the 20-day EMA (blue line).
Once it successfully breaks through, it may push the coin price up further. In addition, the Chaikin Money Flow (CMF) has also risen above the signal line. CMF is used to track the inflow of funds into cryptocurrencies. Its decline means that the buyer's power is weakening, while the recent rise indicates that the buyer's pressure is increasing. If this trend is confirmed, it may push DOGE up 27.56% to $0.13.
This prediction is also confirmed by the bull-bear indicator. This indicator shows whether 1% of the cryptocurrency's trading volume is dominated by buyers or sellers. In the past seven days, the number of buyers is about 92 and the number of sellers is 89.
If buyers continue to overwhelm sellers, the price may rise to $0.13 in the short term. In the long run, the prediction that DOGE will rise to $1 may also become a reality.
If you keep chasing ups and downs and are often trapped, it is because you don’t have the latest news in the cryptocurrency circle and don’t have professional strategies! Zhuye Introduction Find me, there you can experience the feeling of winning without doing anything!
