Bitrabo Editorial
There are indications that Dogecoin (DOGE) is on the brink of a potential golden cross, signaling a bullish trend on the meme coin’s chart. A historical analysis suggests that such a development could trigger a significant uptrend for DOGE.
Dogecoin’s Impending Golden Cross
According to crypto analyst Kevin, Dogecoin is nearing its first weekly golden cross in four years, with just two to three green weeks away. The last time DOGE experienced a weekly golden cross, it resulted in a 6-month price rally and an astonishing 18,000% price surge.
A golden cross occurs when the 50-day moving average surpasses the 200-day moving average, typically signaling a strong bull market. With a potential weekly golden cross looming, Dogecoin could be on the verge of a parabolic rally.
Despite a lack of significant momentum compared to other leading meme coins like Pepe (PEPE), analysts like Crypto Kaleo remain optimistic about DOGE’s performance in the current bull run.
Javon Marks has also provided a bullish forecast for Dogecoin, suggesting a potential rally to $0.6533, with further upside to $1.25 if certain price targets are met.
Anticipated Correction Before Dogecoin’s $1 Surge
Speculation suggests that Dogecoin may experience a final pullback before surging towards the $1 mark. Analyst Crypto Kaleo believes that it might be premature for DOGE to witness a drastic spike based on past cycles related to the Bitcoin halving event, prompting investors to exercise patience.
In terms of potential retracement levels, Crypto Kaleo suggests that Dogecoin may retrace similar to the correction following the launch of Spot Bitcoin ETFs in January, although the impact is expected to be manageable in the bigger picture.
Despite predictions that DOGE could dip as low as $0.08 before hitting $1, some dissenting opinions argue that such a steep drop is unlikely in the current bullish market context.