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

Dogecoin Set for Potential Bullish Golden Cross

Prominent crypto analyst Kev_Capital_TA has identified a potentially bullish technical indicator for Dogecoin (DOGE). Within the next 2-3 weeks, DOGE may witness the formation of a "golden cross."

A golden cross occurs when the 50-week moving average price surpasses the 200-week moving average price. Technical analysts often interpret this pattern as a signal of a prospective long-term uptrend.

For DOGE, this indicator holds significance due to its historical performance. The previous golden cross in May 2021 marked the start of an extraordinary six-month rally, with DOGE surging by over 18,000%.

If history repeats itself, and a golden cross is accompanied by similar price action, DOGE could potentially reach a price of approximately $23.40 per coin. This would equate to a market capitalization for Dogecoin exceeding $3.48 trillion.

While the possibility of a golden cross and subsequent price increase is alluring, some market observers remain skeptical about such a dramatic surge. They cite the evolving crypto market and Dogecoin's significant difference in market cap compared to 2021.