As a seasoned researcher with a knack for deciphering market patterns and a soft spot for meme coins, I find myself intrigued by the potential bull run predicted for Dogecoin (DOGE) in November. The 2,180-day accumulation pattern, reminiscent of a triangle, has been a recurring theme in DOGE’s price behavior.
According to crypto expert Ali Martinez, November might see significant movement for Dogecoin (DOGE). He believes that if DOGE consistently closes above $0.20, it could trigger a potential price increase.
The chart you see indicates that Dogecoin has been building up for about 2,180 days, a process that started back in 2021 following an increase of approximately 15.524%. Once this accumulation phase ends (forming what we call a triangle), there’s a possibility that the price of DOGE could surge to unprecedented heights.
Based on the analysis I’ve observed, there seems to be a pattern in the fluctuations of Dogecoin’s price, often characterized by prolonged accumulation phases within triangular structures.
In the year 2021, a surge to $0.75 for DOGE happened following a period of 1,096 days where it was being built up or accumulated. This price jump followed an even longer period of 1,155 days in 2018 during which Dogecoin experienced a significant increase of approximately 8,933% due to its prior accumulation.
Historical trends suggest that November might bring about a significant upward trend (parabolic bull run) for Dogecoin ($DOGE). Be on the lookout for a continuous close above $0.20.
— Ali (@ali_charts) October 30, 2024
If this trend continues in the future, estimates for Dogecoin’s (DOGE) value might surpass $1, considering that it’s currently just fivefold its present cost, and historically, these increases have amounted to many multiples more than a thousand percent.
So, yes, Dogecoin may be ready for the “to the moon” scenario.
As a crypto investor, I’ve been closely watching Dogecoin’s performance. Importantly, for my investment to be validated, the price of this meme cryptocurrency must hold above the $0.20 mark. Despite surging by approximately 50% in October, Dogecoin has fallen short of this goal so far. Today, its growth was halted at $0.1798 due to selling pressure from the bears.
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2024-10-30 17:24