Little-Known But Important Dogecoin Indicator Goes Off, How High Can It Drive Price?

Dogecoin Price Surge Imminent, Indicates Gaussian Channel Indicator

The Dogecoin (DOGE) price slump may be nearing its end, according to the little-known but significant Gaussian Channel (GC) indicator. As observed by crypto analyst Trader Tardigrade, the GC recently flashed green on the weekly DOGE chart, signaling a potential upward surge for the cryptocurrency.

Gaussian Channel Turns Bullish for DOGE

The Gaussian Channel is a technical indicator that identifies areas where the price trades at extreme highs or lows relative to its recent range. When DOGE reaches the green zone of this indicator, it has historically responded favorably.

According to the weekly DOGE chart shared by Trader Tardigrade, the recent price action has pushed the cryptocurrency into the GC's green zone. This is a bullish development that suggests a significant upward move could be imminent.

"When the time is up, #Dogecoin will surge incredibly," the analyst stated.

Historical Patterns Support Surge

Examination of the chart reveals two previous instances where Trader Tardigrade identified similar patterns for DOGE and the GC. In 2016 and 2021, when the GC turned green, DOGE embarked on multi-year rallies, setting record highs.

Potential Price Targets

While precise price predictions are elusive, history suggests DOGE could see an extended bullish period. The analyst anticipates a potential surge past its current all-time high, potentially reaching $0.73 this year and $1 by 2025. Trader Tardigrade has also projected an ultimate price target of $6.5, representing an increase of over 5,100% from the current price level.

Market Dynamics

In the current market conditions, Dogecoin's price is facing resistance levels. However, data from IntoTheBlock indicates that DOGE whales have been reducing their holdings, which could provide support for a rally.

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