Dogecoin’s been on a roll lately! After months of sideways movement, it recently broke out, jumping from under $0.14 to over $0.22 in just a few weeks. It’s even climbed above $0.24 now, leaving behind a recent trading range. But could this be just the beginning?
A Bullish Signal?
Crypto analyst Trader Tardigrade spotted something interesting on Dogecoin’s weekly Stochastic RSI chart. The current pattern looks exactly like the one right before Dogecoin exploded by over 243% between November and December 2024.
The key? A crossover of the Stochastic RSI lines, signaling a potential sustained uptrend. This same crossover just happened again!
The 2024 Repeat
The chart shows that in late 2024, this RSI pattern led to a rapid price increase from about $0.10 to $0.48 in just six weeks. It was a classic low base followed by a strong breakout, confirmed by a bullish RSI shift.
Could $0.75 Be Next?
At the time of this analysis, Dogecoin was trading just above $0.22, building on gains from a bounce off support around $0.215. If history repeats itself, a 243% rally from $0.22 would put Dogecoin near $0.75 – a new all-time high!
Recent Price Action and Predictions
Dogecoin has already shown some early momentum, surpassing $0.22. At the time of writing, it’s trading at $0.2425, up 7.6% in the last 24 hours. If the prediction holds true, we could see Dogecoin around $0.75 by late June. But first, it needs to break through resistance at $0.25.
