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Dogecoin Uptrend Set to Resume? Here’s Why Analysts Think So

Dogecoin Uptrend Set to Resume? Here’s Why Analysts Think So
Analysts are suggesting that Dogecoin (DOGE) is ready to resume its uptrend after a consolidation period. The cryptocurrency experienced a surge shortly after Donald Trump's election victory, but has since stalled. However, analysts believe that DOGE is preparing for its next move. Crypto trader Olivier Đ X believes that DOGE is completing a breakout of a descending channel on the 4-hour candle chart, with the potential to expand into an ascending triangle chart pattern. Another analyst, The Cryptomist, also sees an ascending triangle pattern on DOGE's daily candle chart, suggesting a significant spike in price. While no price targets are given, other analysts believe that DOGE could break its all-time high price and reach $3 in the long term. Data also shows that investor sentiment towards DOGE has turned negative, with social mentions of the asset decreasing significantly.

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