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Dogecoin is up 5% daily with one analyst predicting a significant rally based on historical patterns.performed quite well in the last week, witnessing a 7% price increase. In the past few days though, it briefly lost, those price swings are part of a bullish path that could take DOGE to a new all-time high in the following months.that the meme coin consolidated in a descending triangle in 2016 and 2021, followed by a triple-digit price rally later.
“Dogecoin is playing the same pattern we’ve seen before. It consolidates in a descending triangle, sees a 140% to 230% rally, and retraces by 56% to 60% before entering a bull run.” The trader also admitted that he has only been buying more DOGE tokens as of late, not parting with a single one.For their part, KALEO argued that DOGE has the “secret” power to move sideways for extended periods, followed by “rapid, vertical growth.” The analyst went further, predicting that it mayThe DOGE Relative Strength Index also suggests an incoming rally. It measures the change and speed of price movements, varying from 0 to 100.
It is worth noting that the metric hovered in approximately the same zone at the end of March and the beginning of April when DOGE’s valuation jumped above $0.22.Best Cardano Wallets in 2024 – Top 6 Options ReviewedSign-up FREE to receive our extended weekly market update and coin analysis report Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
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