Crypto analyst JD shared some optimistic technical analysis on Dogecoin (DOGE), the original dog meme token. While some dismiss DOGE as a joke “shitcoin” and Doge continues battling the “dumb money” reputation of meme assets, JD contends DOGE boasts an attractive chart structure, signaling upside ahead.
He notes that a golden cross looks to be approaching on the higher timeframe charts. The last time Dogecoin’s 50-day moving average crossed above its 200-day MA, DOGE dipped 23–39% following the cross before embarking on a parabolic, multi-thousand percent rally.
JD seems to expect similar fireworks this time around, especially if DOGE can consolidate constructively after the bullish moving average crossover materializes. With Dogecoin deemed “the king of memecoins” despite its critics, the analyst makes the case for more upside, fueled by the loyal DOGE community.
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Show more +Show less –Dogecoin is hovering around $0.09055 at press time, with a 2.4% drop in value over the last 24 hours.
As one of crypto’s most recognizable legacy projects, it remains a formidable contender to capture more speculative inflows. For experienced traders playing both sides, JD believes DOGE offers lucrative swing trading opportunities during bull run ignitions and ensuing market euphoria.
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The post Dogecoin Nearing Golden Cross Which Was Previously Catalyst for DOGE Moon Rally: Analyst appeared first on CaptainAltcoin.
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