The cryptoverse is buzzing with intriguing predictions as renowned cryptoanalyst, Trader Tardigrade, provides his analytical insights into the future trajectory of Dogecoin (DOGE), the internet’s most popular ‘meme coin’. According to Tardigrade’s comprehensive analysis, Dogecoin is on the cusp of accelerating towards a ‘god candle,’ a phenomenon that could propel its price into uncharted territory.
Tardigrade shared his prediction through an online post, where he projected an upward climb for Dogecoin, forecasting a substantial rally towards a titanic $7.5. He extrapolated this prediction through his observation of a triangle consolidation formed by Dogecoin, considered by experts as an indicator of a robust upward trend.
This consolidation is markedly the last phase before a significant upward shift, manifesting right before a coin’s price skyrockets. Tardigrade highlighted the fact that Dogecoin has consistently exhibited such triangle consolidations during every major market cycle, usually before an explosive rally ensues. Despite the market’s contrasting sentiment, Tardigrade has maintained his bullish predictions for Dogecoin, endorsing a series of optimistic narratives surrounding the coin’s forthcoming surge.
In one of his post, Tardigrade identified a ladle pattern, another worthwhile trend that Dogecoin has perpetually followed. Illustrating the pattern with a chart, he showcased how Dogecoin could easily cross the $2 mark once the ladle or ‘shaft’ had formed. In his continued scrutiny, Tardigrade discerned a parallel channel that Dogecoin perpetually navigates, suggesting that once the coin deviates from the lower channel trend line, it could catapult to a staggering $12.
Tardigrade is among several analysts who have drawn from Dogecoin’s historical trends to speculate on its future. A fellow analyst, Javon Marks recently anticipated that Dogecoin could climb to an astronomical $17, given its tendency to register a more significant run in every successive bull march.
Conversely, however, not all predictions predict an upward trajectory for Dogecoin. Despite Trader Tardigrade and Javon Mark’s highly optimistic forecasts, a palpable bearish sentiment seems to be brewing around Dogecoin’s future. Analyst Kevin warned of a troubling sign as DOGE has shed all its daily moving averages, an ominous sign for the coin if it fails to reclaim these moving averages promptly.
Kevin also noted that Dogecoin’s bounce back, after reaching the $0.11 ‘golden pocket’, was somewhat disappointing. At this stage, the analyst believes that the crucial indicator to watch for is whether Dogecoin can claw its way above $0.132, whilst managing to hold within the $0.10 to $0.11 range should the coin undergo a further decline.
Presently, Dogecoin is trading around the $0.12 mark, registering a fall over the last day, as per data from CoinMarketCap. As always, in the fast-paced, everchanging world of cryptocurrencies, only time will disclose whose predictions will prevail.
