Price: $0.38574 -8.5195%
Market Cap: 56.62B 1.9381%
Volume (24h): 18.84B 0.4%
Dominance: 1.9381%
Price: $0.38574 -8.5195%
Market Cap: 56.62B 1.9381%
Volume (24h): 18.84B 0.4%
Dominance: 1.9381% 1.9381%
  • Price: $0.38574 -8.5195%
  • Market Cap: 56.62B 1.9381%
  • Volume (24h): 18.84B 0.4%
  • Dominance: 1.9381% 1.9381%
  • Price: $0.38574 -8.5195%
Home > Information news > Dogecoin follows ‘classical charting principle’ which hints at 1,000%+ DOGE rally

Dogecoin follows ‘classical charting principle’ which hints at 1,000%+ DOGE rally

Release: 2024/11/14 00:39 Reading: 362

Original author:Cointelegraph

Original source:https://coinmarketcap.com/community/articles/6734cf526095812a9dab2f8f

Dogecoin follows ‘classical charting principle’ which hints at 1,000%+ DOGE rally

Dogecoin Rallies Post-Election, Exhibits Technical Potential

Dogecoin (DOGE) has been a top performer in November, with its rally accelerating after Donald Trump's election victory. In the past 30 days, DOGE has gained 229%, making it the best-performing cryptocurrency asset.

The memecoin's market structure has shifted at $0.37, a level previously seen in October 2021. If history repeats itself, DOGE could see a significant price increase.

"Classic" Inverse Head-and-Shoulders Pattern

Veteran trader Peter Brandt has analyzed Dogecoin's price action, noting that it has exhibited a "classic" inverse head-and-shoulders pattern. This pattern, which occurred in 2020 and 2024, has historically been followed by a bullish breakout.

Economist and trader Mikybull also observed a potential "golden cross" on Dogecoin's weekly chart, suggesting that a further rally is possible. However, he predicted a market peak of around $3 to $4 based on diminishing returns.

Technical Outlook

Dogecoin's immediate area of interest lies between $0.30 and $0.326, where a fair value gap has formed. Below $0.30, an order block between $0.272 and $0.297 could provide additional support.

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