Why DOGE is Worth Your Attention
Crypto analyst Jaydee has provided a bullish outlook for Dogecoin (DOGE) and outlined several reasons why a significant price breakout could be on the horizon for the popular meme coin. According to Jaydee, there are three indicators that typically precede a DOGE price breakout. The first indicator is the Moving Average Convergence Divergence (MACD), which has already shown a bullish cross. The second indicator is the Average Sentiment Oscillator (ASO), which is yet to materialize. The third indicator is DOGE’s price breaking out of its multi-year trendline, which has previously led to parabolic moves in 2017 and 2021.
A Potential Parabolic Move for DOGE
With the MACD already showing a bullish cross and DOGE’s price at a crucial point, Jaydee believes that a parabolic move may be on the horizon for the meme coin. He emphasized that DOGE’s “chart structure is amazing” and will be closely monitoring it in the coming months. Additionally, there is anticipation surrounding the launch of ULA’s Vulcan Centaur Rocket carrying a physical Dogecoin on January 8, which could further boost DOGE’s price.
The Current State of DOGE
At present, Dogecoin is trading at around $0.09286, experiencing a 3% increase in the last 24 hours. As per CoinMarketCap data, it continues to show positive momentum.
Hot Take: A Potential Bull Run for DOGE
Considering the indicators highlighted by Jaydee and previous price movements, Dogecoin appears to be in a favorable position for a potential bull run. With the MACD already showing a bullish cross and the anticipation surrounding the launch of ULA’s Vulcan Centaur Rocket, DOGE could experience significant price gains in the near future. Investors should keep a close eye on DOGE as it navigates its multi-year trendline and prepares for potential parabolic moves.
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