According to market technician Cantonese Cat (@cantonmeow) a single metric—the 20-month simple moving average—could be the line that could separate another vertical rally from a gut-wrenching breakdown for Dogecoin. Currently, DOGE sits comfortable above that moving average, now plotted at $0.1751. The black curve on Cat’s chart shows only three clean retests of the 20-month SMA since 2014.
All Eyes On Dogecoin’s 20-Month SMA
The first came in March 2017, when price tapped the average near $0.00020 and then ripped more than 9,000% into the January 2018 peak. The second occurred in the winter of 2020, with price kissing the average at roughly one-fourth of one cent before the parabolic 34,500% run to $0.73 the following May. The third and current encounter began in August last year when DOGE rallied by more than 480%.
As of today, two successive monthly candles dipped into the zone just below twenty-cents, but both were bought aggressively, leaving higher wicks and
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