Bullish Inverse Head and Shoulders Pattern
Despite recent price dips, Dogecoin has formed a bullish inverse head and shoulders pattern, indicating a potential rally. This pattern often precedes significant price increases.
Ordinals on the Rise
Ordinals have gained popularity on the Dogecoin network, similar to their counterparts on Bitcoin. The MyDogeWallet team has announced support for “Doginals” and DRC-20 tokens, further solidifying their importance on the blockchain.
Breakout Attempt
Dogecoin’s price initially broke out of the pattern but has since pulled back. However, analysts believe it can continue its rally if it holds above $0.158.
Ordinals’ Impact on Price
The increased usage of Ordinals on the Dogecoin network could positively impact its price action, potentially leading to better performance in the future.
