Dogecoin Showing Strong Signs of Impending Price Breakout, Says Analyst
Dogecoin (DOGE), the renowned meme coin, is showing strong potential for a major price breakout, according to crypto analyst Jaydee. Three key indicators suggest an impending rally that could possibly mirror or surpass the all-time high of $0.7 in 2021.
Dogecoin: Indicators of Impending Success
Jaydee pointed out three crucial indicators that have historically been precursors to significant DOGE price movements. The first is the Moving Average Convergence Divergence (MACD), which has already shown a bullish cross. In the past, this has generally been a sign of impending parabolic gains for DOGE.
The second indicator is the Average Sentiment Oscillator (ASO). While the ASO has not yet shown a cross, it is expected to happen in the near future, potentially leading to a surge in Dogecoin’s price.
The third indicator, which has already been met, is DOGE’s price breaking out of its multi-year trendline. Historically, such breakthroughs have led to substantial price increases for the meme coin.
Expectations for an ‘Epic Pump’
Another crypto analyst, Captain Faibik, has also expressed optimism about DOGE’s prospects, anticipating an ‘epic pump’ for the coin this year. Such a rally could potentially increase the value of DOGE by a staggering 900%.
In a related development, a physical Dogecoin is scheduled to be carried to space aboard the ULA’s Vulcan Centaur Rocket on January 8. This event has the potential to further influence Dogecoin’s price in a positive way.
As of the last update, Dogecoin’s price has risen over the past 24 hours, trading at around $0.09286, showing promising signs of the anticipated breakout.
Monitoring Dogecoin’s Future
Jaydee has stated plans to closely monitor Dogecoin in the coming months, in view of the possible rally. With the indicators lining up and the crypto market’s inherent volatility, DOGE’s journey in the upcoming months could be one of significant gains.
