Prominent crypto analyst "Kev_Capital_TA" has identified a potentially bullish technical indicator for Dogecoin (DOGE). In a recent X post, the analyst highlighted the possibility of a "golden cross" emerging for DOGE within the next 2-3 weeks.
A golden cross is a chart pattern formed when the 50-week moving average price crosses above the 200-week moving average price. This pattern is often viewed by technical analysts as a sign of a potential long-term bullish trend.
Godfrey BenjaminThe significance of this for DOGE lies in its past performance. The last time a golden cross occurred for the popular meme cryptocurrency was in May 2021, which preceded a remarkable half-year price surge of over 18,000%. This rapid increase saw DOGE climb from $0.003 to a peak of $0.75 per coin.
If history were to repeat itself with the emergence of another golden cross, and a similar price movement followed, DOGE could reach a price of approximately $23.40 per coin. This would translate to a market capitalization for Dogecoin exceeding $3.48 trillion.
Vladislav SopovWhile the possibility of a golden cross and subsequent price increase is intriguing, some market participants may view such a dramatic surge as highly improbable. They point to the maturing crypto landscape and the vast difference in Dogecoin's market cap compared to 2021.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin