Dogecoin (DOGE) Poised to Repeat Past Performance, Historical Patterns Suggest 90% Gains in Q4

Dogecoin [DOGE], the largest memecoin, is gearing up for the last quarter of the year as the overall crypto market recovers from a recent crash triggered by geopolitical tensions between Israel and Iran.

Dogecoin [DOGE], the forerunner amongst memecoins, is preparing for an impactful last quarter as the broader crypto market recovers from a recent market crash triggered by geopolitical tensions between Israel and Iran.

During this period, DOGE is expected to lead other memecoins in a rally. Past patterns in the DOGE/BTC pair suggest the market may be entering an interesting phase for Dogecoin.

Historically, DOGE pumps began 235 days after Bitcoin halving, on two separate occasions, leading to substantial gains.

This year, a similar pattern has emerged, begging the question: Are gains of over 90% on the horizon for DOGE in this final quarter?

The recurrence of these patterns bodes well for Dogecoin in Q4.

Dogecoin RSI bounceA key factor supporting this bullish outlook is the emergence of a divergence signal, which often indicates a potential reversal or continuation of trends.

In this instance, traders are anticipating a reversal towards bullish momentum for DOGE. This divergence occurred as Dogecoin traded below the 200-week moving average.

However, the Relative Strength Index (RSI) bounced from the oversold zone, signaling that now could be an optimal time to enter long positions, expecting DOGE to see gains similar to previous cycles—potentially exceeding 90%.

Long accounts percentageAnother key indicator suggesting a positive Q4 for DOGE is the recent percentage of long accounts.

According to data from Hyblock, the percentage of long accounts trading Dogecoin has remained stable over the past 24 hours, trading in the 96th percentile. This stability suggests that long traders are in control, bolstering the bullish sentiment surrounding DOGE.

Moreover, a slight increase in the long account percentage has impacted Dogecoin’s open interest, which has seen a marginal decline. This reduction in open interest often indicates that short positions are exiting the market, further supporting a bullish outlook for Dogecoin.

Crowd vs. Smart Money sentimentBoth the sentiment among large traders and the crowd aligns, with both groups leaning towards a bullish outlook for DOGE. This sentiment adds further credence to the notion that Dogecoin is set for gains in the last quarter of the year.

However, external factors, such as geopolitical tensions, could influence the direction of DOGE’s price movement, as observed recently. Tensions between Israel and Iran had a noticeable impact on the broader crypto market.

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