Dogecoin (DOGE) on Verge of Price Doubling, If This Bullish Crossover Plays Out

Dogecoin Rally Predicted by Crypto Expert

Cryptocurrency expert Ali Martinez forecasts a substantial rally for Dogecoin (DOGE). Historical trends indicate that the popular meme coin could double in value.

Martinez's prediction is based on the Moving Average Convergence Divergence (MACD) indicator. Twice before, when DOGE experienced a bullish crossover on the weekly chart, the price surged by 90% and 180%, respectively.

The MACD measures price momentum, and a bullish crossover (when the MACD line moves above the signal line) often signals the start of an uptrend.

In the past, these MACD crossovers preceded significant price increases. On October 16, 2023, the price of DOGE jumped 84.54% to $0.10. In February 2024, a bullish MACD crossover led to a 178% surge in six weeks, with DOGE reaching $0.2288.

Martinez notes that the starting point for the upcoming MACD bullish crossover is higher than in previous instances, potentially leading to a more significant price increase. Currently, the price of DOGE is $0.10, compared to $0.061 in 2023 and $0.085 in February 2024.

Additionally, Dogecoin has recently experienced a surge in active addresses, reaching 84,306. Network activity often precedes significant price movements.