Popular Memecoin is on stage again! Analysts foresee a giant rally for one of the most popular Memecoin projects in the crypto market. The technical indicators point not only a small rise, but a potentially giant 10 -storey splashing. So what’s behind this ambitious prediction? As Kriptokoin.com, we convey the critical details that support the rise of the memecoin on the list of analysts.
MACD indicator gives a strong purchase signal
Technical Analysis Experts, Dogecoin’s MACD indicator found a significant break. Macd, which was upward from the triangular formation, had prepared the ground for large price explosions in the past. In particular, similar breakdowns in September and March doubled the price of Doge in a short time. Now the same signal is before us.
This technical development raised the appetite of Doge investors. Because historically, Macd’s upward breaking is a harbinger of a serious momentum. Moreover, the up curl in the price structure further strengthens the rise scenario. Many trades began to reshape their positions accordingly.
Cup and Kulp Formation: Is the target for leading Memecoin 2 dollars?
On the other hand, the “cup and handle” formation in the graphics is clearly formed. This structure usually becomes a harbinger of large rise. According to analysts, if the neckline of this formation, the $ 0.185 level is broken, the target for Doge may be a range of $ 1.85 to $ 2.00. This target was calculated according to the depth of the formation.
In addition, the price is currently looking for support at the lower limit of the handle part. This region was the area where the rise began in the past. So even a small recovery can open the door of a big break. In case of breaking resistance, the procurement pressure may increase rapidly due to FOMO effect.
The similarity of the 2017 bull cycle in Memecoin graphics draws attention
Crypto analysts say that the Dogge graph is quite similar to the bull cycle in 2017. The structure that took place at that time increased the price of breast coin in a very short time. Now it is claimed that the same model has been reunited. If the date repeats, the Dogge can rise up to $ 4.
These claims are of course speculative. However, when graphics, technical signals and investor psychology are combined, the possibility of Dogecoin’s re -starization does not seem distant. Therefore, it is of great importance that investors closely follow the developments.
