Analyst Ali Martinez suggests that Dogecoin (DOGE) is on the brink of a significant rally that could potentially double its price. This prediction is based on historical data and the analysis of the MACD indicator.
Prediction Based on MACD Indicator
Martinez bases his prediction on the MACD indicator, which has shown that the last two times Dogecoin experienced a bullish cross on the weekly chart, its price jumped 90% and 180%.
Previous Price Surges
In October 2023, Dogecoin's price surged by 84.54%, reaching $0.10 within eight weeks of the MACD cross. The next spike occurred in February 2024, when the price reached $0.2288 after a 178% increase over six weeks.
DOGE Growth Prospects
If a new MACD bullish crossover occurs, the starting point would be higher than in previous cases. Notably, Dogecoin recently saw its largest spike in active addresses in the past six months, with 84,306 active addresses. Network bursts often precede substantial price movements.
If the next MACD bullish signal materializes, Dogecoin could see an even more significant increase than before. Current data points to the potential for a notable price rise, making the situation intriguing for market observers.
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