Emily Walker
Crypto expert Trader Tardigrade has shared insights into Dogecoin’s latest price movements. They have pointed out that the meme coin has shown a bullish signal on the moving average convergence/divergence (MACD) indicator and provided predictions for its future trajectory.
Positive Trends for Dogecoin
In a recent tweet, Trader Tardigrade mentioned that Dogecoin has indicated a bullish crossover on the MACD, accompanied by a pattern of increasing lows during a recent uptrend. This suggests that DOGE has successfully gained buying momentum and may have finished its recent price pullback.
The analysis indicates that Dogecoin is well-positioned for a potential bullish reversal, following nearly a month of consolidation since the initial phase of its bull run. Tardigrade’s chart suggests that DOGE could soar to around $0.5 in the next phase of its upward movement.
The analyst recently forecasted that Dogecoin could achieve double-digit prices during this market cycle, reminiscent of patterns observed in the 2017 bull run. The initial phase features a significant rally that occurred from October to early November. Tardigrade believes that DOGE could climb as high as $30 during its second movement phase.
Additionally, analyst Master Kenobi suggests that Dogecoin’s next upward movement might begin around December 30, expectedly followed by a period of price declines leading up to that date. Kenobi views these declines as essential for future growth and predicts that DOGE could potentially hit a new all-time high (ATH) by late December or next month when Donald Trump assumes office.
Dogecoin’s Future Relies on Bitcoin
In another analysis shared on X, Kevin Capital noted that Dogecoin’s direction is primarily influenced by Bitcoin, implying that focusing solely on DOGE might not be worthwhile. However, he also shared his observations regarding Dogecoin’s current trading status.
Kevin pointed out that Dogecoin is fluctuating between key support and resistance levels identified as the macro golden pocket and the macro .5 Fibonacci level. A breach of either level could trigger significant price movements. Nonetheless, he remains optimistic that the DOGE bull run persists, seeing no indications of its conclusion. He expects a future price increase and advises patience for those involved in the market as they await the continuation of the DOGE bull run interactions.
Currently, the Dogecoin price is approximately $0.4, reflecting a decline of over 3% in the past 24 hours, as reported by CoinMarketCap.