Dogecoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Prominent crypto analyst&nbsp;<a href="https://x.com/Kev_Capital_TA/status/1815925206562591168" rel="noopener noreferrer nofollow">"Kev_Capital_TA"</a> has identified a potentially bullish technical indicator for&nbsp;<a href="https://u.today/elon-musk-and-dogecoin-founder-stun-crypto-community-with-posts-about-truth" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a>. In a recent X post, the analyst highlighted the possibility of a "golden cross" emerging for DOGE within the next 2-3 weeks.
A golden cross is a chart pattern formed when the 50-week moving average price crosses above the 200-week moving average price. This pattern is often viewed by technical analysts as a sign of a potential long-term bullish trend.
The significance of this for DOGE lies in its past performance. The last time a golden cross occurred for the popular meme cryptocurrency was in May 2021, which preceded a remarkable half-year price surge of over 18,000%. This rapid increase saw DOGE climb from $0.003 to a peak of $0.75 per coin.
<blockquote>
 <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dogecoin</a> is 2-3 green weeks away from seeing its first weekly golden cross in 4 years. The last time this occurred <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DOGE</a> went parabolic for 6 straight months going up 18,000%. <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/Ow8JGMPndB" rel="noopener noreferrer nofollow">pic.twitter.com/Ow8JGMPndB</a>— Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1815925206562591168?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
</blockquote>
If history were to repeat itself with the emergence of another golden cross, and a similar price movement followed,&nbsp;<a href="https://u.today/dogecoin-doge-market-cap-back-above-20-billion-while-wif-posts-double-digit-gains" rel="noopener noreferrer nofollow">DOGE</a> could reach a price of approximately $23.40 per coin. This would translate to a market capitalization for&nbsp;<a href="https://u.today/major-dogecoin-downtrend-might-finally-be-over" rel="noopener noreferrer nofollow">Dogecoin</a> exceeding $3.48 trillion.
While the possibility of a golden cross and subsequent price increase is intriguing, some market participants may view such a dramatic surge as highly improbable. They point to the maturing crypto landscape and the vast difference in Dogecoin's market cap compared to 2021.

Dogecoin Golden Cross Alert: Is DOGE Set for 18,000% Rally?

U_Today

Autres articles publiés le 24 juil. 2024

Vanar Launches NFT Marketplace and Sponsors Google Cloud Startup Event

Will The Bitcoin Price Close Out July In Green Or Red? Historical Data Gives Direction

Mt. Gox Creditors Opt To HODL Bitcoin Rather Than Sell, CryptoQuant Data Shows

US Government Might Use Bitcoin as Reserve Asset With 200,000 BTC Already in Treasury

Discover Bonk’s Play-to-Earn Secrets and Shiba Inu’s Viral Power: WW3 Shiba’s Hype is Unstoppable!

Experts Say Litecoin and MATIC Will Make Solid Gains This Cycle But Rollblock Gains Will Far Surp...

Join our free newsletter for daily crypto updates!