Coinspeaker
Dogecoin Price Forms Fractal Pattern Eyeing Massive Breakout
Dogecoin’s price has stabilized around $0.40 following a strong rally. The current market pattern closely resembles DOGE’s behavior prior to its massive 8,000% surge in 2021, fueling predictions of another potential mega rally.
After hitting the lows earlier this year in August, the Dogecoin price has bounced back 480%, of which 220% gains came following the Donald Trump victory last month. Despite this, DOGE has been consolidating in a very narrow range of $0.39–$0.48, with a setup similar to that before the 2021 mega rally.
DOGEUSDT
As said, the current consolidation phase for Dogecoin price mirrors that of early 2021, wherein the meme coin experienced a massive breakout following the sideways trend for a while. Additionally, the weekly relative strength index (RSI) for DOGE has entered overbought territory above 70, a typical signal of a potential price correction or consolidation.
However,
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