Why Dogecoin’s Bounce Above $0.3 Is Inevitable 🐶🚀

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Prepare for liftoff, folks! Crypto analyst TradingShot has spotted a peculiar pattern on DOGE‘s chart that suggests a cosmic bounce above $0.3 is right around the corner. Yes, you heard it right! The meme coin that survived the crypto apocalypse might just be on the brink of a glorious comeback. 🎉

Behold, The ‘Channel Down’ Formation: Dogecoin‘s Secret Weapon 🕵️‍♂️

In a riveting TradingView post, TradingShot unveiled the mystical ‘channel down’ formation, revealing why the Dogecoin price could soar above $0.3. According to the analyst, DOGE is trapped in a 2-month-long downward channel, which, on a grander scale, could be a bull flag for this bull cycle. Now, don’t let that scare you! It’s like a superhero cape for DOGE, waiting for the right moment to unleash its true potential. 🦸‍♂️

But wait, there’s more! TradingShot also mentioned that DOGE’s price took a nosedive and touched its 200-day Moving Average (MA) for the first time since October 25, 2024. If this is just a fleeting channel down, then the low recorded on Monday could be the ultimate bottom. It’s like hitting rock bottom, but with a silver lining, because the previous low on December 20, 2024, bounced back like a kangaroo on steroids, reaching almost the 0.786 Fibonacci retracement level. 🐨

With DOGE in the oversold zone, the crypto guru predicts that the next leg of the bull run will aim for $0.3800, just shy of the 0.786 Fib level. After a tumultuous weekend where DOGE plummeted by 40% and hit rock bottom at $0.20, the recovery began when the US, Mexico, and Canada decided to take a breather from tariffs. However, our beloved meme coin is still hovering below the $0.30 mark. But fear not, dear hodlers, a bounce above this price level could ignite DOGE’s rocket fuel and send it soaring through the crypto stratosphere once again. 🚀

Kevin Capital’s Oracle Prediction: DOGE’s Next Bull Run Is Imminent 🔮

In an X post, crypto seer Kevin Capital prophesied that the Dogecoin price should embark on the next leg of its bull run sooner rather than later. He believes that DOGE has weathered the storm and completed the second major correction of its bull cycle, mirroring the price action from the previous cycle, even in terms of percentage. 🔄

If the Bitcoin price cooperates, Kevin Capital asserts that the Dogecoin price should commence its next bull run imminently. Meanwhile, crypto analyst Trader Tardigrade uncovered that Dogecoin’s MACD signals a bullish crossover on the 4-hour chart. He adds that DOGE is gathering steam and could potentially reverse into a bull run again. 📈

As we speak, the Dogecoin price is cruising at around $0.26, enjoying a sweet 13% gain in the past 24 hours, according to CoinMarketCap’s data. So, hold on tight, folks, because the DOGE rollercoaster is about to take off! 🎢

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2025-02-05 03:13