Dogecoin, the leading memecoin, is showing signs of recovery after a significant correction. The price of DOGE has stabilized following an impressive 200% rally last month and might be ready for a new surge.
Current State of Dogecoin
Dogecoin recently experienced a 21% decline over the past 30 days, bringing its price to $0.3244. However, it is now showing recovery signs, possibly indicating the completion of its correction phase.
Confirmation of the Final Retest
According to a multi-year chart by @TATrader_Alan, Dogecoin follows a recurring pattern of 'Final Retests' before parabolic rallies. Historically, these retests have been followed by significant price jumps.
What’s Next for Dogecoin?
The recent correction has formed a falling wedge pattern, which is bullish. The breakout above the $0.32 level in Dogecoin could pave the way for new highs, with potential targets at $0.41 and $0.48.
Current chart patterns of Dogecoin suggest a promising setup for a significant bullish rally. Historical patterns and technical indicators support the possibility of reaching new highs. However, investors should remain cautious and conduct thorough research before making decisions.
