Dogecoin (DOGE) Primed for Another Major Price Rally as Historical Breakout Patterns Suggest Major Gains Ahead

Dogecoin (DOGE) has recently experienced a significant surge in network activity, with over 84,306 new active addresses—the highest number in the past six months.

Dogecoin (CRYPTO: DOGE) has recently seen a significant surge in network activity, with over 84,306 new active addresses—the highest in the past six months.

This increase comes amid rising whale activity and growing interest in the meme cryptocurrency, despite a recent price correction.

As technical indicators suggest potential bullish momentum, some analysts anticipate that Dogecoin could be preparing for another major price rally.

Dogecoin Price Analysis

factor in recent dogecoin price analysis reveals a possibility of an upcoming bullish reversal. The Moving Average Convergence Divergence (MACD) indicator is nearing a crossover, a signal that has in the past marked the beginning of major price gains.

In past cases such crossovers resulted in the price rise of 90% and 180% respectively. If this pattern continues, some experts believe that the price of this cryptocurrency may surge to $0.20 or even more in the short-term future.

The last two times #Dogecoin $DOGE had a MACD bullish crossover on the weekly chart, it rallied 90% and 180%, respectively. A new MACD bullish crossover could be forming soon! pic.twitter.com/1YfefMe36i

Dogecoin was trading at $0.104 on Monday morning, down 6.5% over the past 24 hours, and up nearly 10% over the past seven days. Dogecoin has seen a strong rally in 2023, up over 2,400% year-to-date.

Dogecoin Surges to Highest Active Addresses in 6 Months, Rising Whale Activity, Technical Indicators Suggest Potential Bullish Reversal. Dogecoin is currently ranked 10th by market cap.

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