Dogecoin on the brink of explosion. 75% increase and technical signals suggest an imminent historic launch.
Technical indicators and recent market movements indicate that Dogecoin (DOGE) is close to achieving a significant price breakthrough, which could propel it towards new historic levels, amid increasing buying momentum, notable accumulation by major investors, and continued market positivity in perpetual contracts.
The most famous cryptocurrency among 'meme coins' recorded a price of $0.2280 on Tuesday, up 75% compared to its lows in April, reflecting a strong return of buying confidence and rising momentum since the beginning of the second quarter of the year.
A bullish technical pattern signals a strong launch.
Technical analysis shows the formation of a 'bullish flag' pattern on the daily chart, one of the strongest continuation patterns, which usually signals sharp increases after a consolidation period. This coincided with the currency approaching the formation of a mini golden cross between the 50-day and 100-day moving averages, enhancing the likelihood of a technical breakout in the coming days.
If the breakout is confirmed, attention is expected to shift towards the next resistance level at $0.4815, which represents the highest peak the currency recorded in November 2023, an increase of more than 110% from the current price. Conversely, falling below the $0.20 level may weaken this scenario.