Dogecoin Primed for ATH as Analysts Spot Textbook Reversal Signal—Meme Coin Spring Loading?
Dogecoin's chart just printed the mother of all bullish signals—and crypto traders are scrambling to front-run the crowd.
Classic reversal pattern triggers DOGE alert
The meme coin's weekly chart flashed a textbook TD Sequential buy signal, the same setup that preceded its 12,000% moonshot in 2021. Market technicians are whispering about a potential replay as institutional money creeps into crypto's joke-turned-juggernaut.
Retail army vs. whale showdown incoming
With DOGE hovering near critical support, the stage is set for either a spectacular breakout or catastrophic rug pull. Hedge funds have been quietly accumulating since June, while Reddit traders remain oddly quiet—perhaps too quiet.
Finance traditionalists clutch pearls as 'dog money' threatens to outperform their carefully constructed portfolios... again.
Dogecoin Analysis/Dogegod
For context, Dogecoin dropped to a low of $0.188 on August 2, spurred by recent price weakness. Notably, the downtrend saw it retest a support level between $0.20 and $0.175.
Remarkably, the support stopped Dogecoin from further price correction on July 15, when it also dropped to $0.188. The momentum from the zone, coupled with a broader market bullish trend, pushed DOGE to July’s high of $0.288. Notably, the high also aligns with the top of an ascending channel, as shown in the analyst's chart.
Meanwhile, Dogegod suggested that the bounce from the support would endure, ensuring a classic reversal uptrend to a new all-time high. His chart shows a 135.7% uptick, first to $0.4854 before completing an over 258% surge past the current all-time high of $0.7376 to unprecedented prices.
Larger Bottom: Larger Pump for Dogecoin
Interestingly, Dogegod’s bullish analysis aligns with that of TraderTardigrade, who highlights that Dogecoin is currently within a consolidatory phase. His Thursday tweet shows that the meme coin is presently forming a solid base, building momentum for a larger price rally compared to the one seen in November 2024.
An accompanying chart shows that Dogecoin has been ranging within a price zone since late February, with the price making highs and lows. DOGE was in a similar but smaller base between July and early November 2024 before the breakout to December’s high of $0.4846.
