Dogecoin Bullish Momentum Continues with Second Pennant Formation

Dogecoin (DOGE) has formed a second bull pennant pattern, signaling a potential breakout toward $0.90. This flag pattern suggests a continuation of the preceding uptrend, as previous breakouts have aligned with bullish movements.

Market Value to Realized Value (MVRV) Ratio Indicates Growth Potential

The MVRV ratio for DOGE stands at 45.65%, below the crucial level of 78%. This indicates that the asset has room for further growth before reaching overbought territory.

Analysts Forecast Short-Term Correction and Long-Term Bullishness

While a short-term correction is possible, analysts remain bullish on DOGE's long-term trend. Crypto analyst Trader Tardigrade predicts a potential breakout from the pennant pattern, pushing the price to $0.90.

The post Dogecoin's Second Bull Flag: Key to Massive Breakout? DOGE to $0.90? originally appeared on Coin Edition.