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

Author: Content Editor
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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