Dogecoin, the popular meme coin, might be on the verge of a massive price surge.
A Second Low, A Big Rally?
Crypto analyst Trader Tardigrade believes Dogecoin has formed a “second low,” which could signal a huge price increase. He points to historical patterns:
- 2014-2017:
Dogecoin hit a support level in 2015, then a second low in 2017, leading to a massive rally that year. - 2018-2021: Dogecoin found support in 2020, then a second low in 2021, followed by a huge price jump.
Based on this, Trader Tardigrade suggests Dogecoin could see a 4,000% rally to over $4 during this bull market.
Is November 6th the Day?
When asked about a potential breakout on November 6th (after the US Presidential election), Trader Tardigrade said, “Not a bad guess.”
More Bullish Signs
Another analyst, Ali Martinez, sees a “bullish divergence” in Dogecoin’s price chart. This means Dogecoin is making new lows, while its Relative Strength Index (RSI) is hitting higher lows. This could signal a reversal and a potential price increase.
Martinez also noted a “buy signal” on Dogecoin’s TD indicator, suggesting favorable conditions for a price jump.
Will Dogecoin Rocket?
While Dogecoin is currently trading at $0.096, the analysts’ predictions are causing excitement among investors. Will Dogecoin really take off? Only time will tell!
