According to market analyst Exocet, Dogecoin, the meme coin, may experience a temporary decline before undergoing a significant upward surge. Exocet identified a falling wedge pattern on the DOGE daily chart, suggesting a bullish continuation but with a near-term correction. The chart reveals Dogecoin's previous breakout and subsequent correction, leading to the formation of the falling wedge pattern. Exocet predicts that Dogecoin may test the upper trendline of the wedge, around $0.2350, but could face rejection, potentially driving the price back to an interim low near $0.1750. If Dogecoin overcomes the $0.2350 barrier, it could experience substantial upside. However, favorable market conditions, such as Bitcoin's recovery, will play a significant role in Dogecoin's ability to sustain a breakout. Additionally, analytics resource NineDragonsVenture believes Dogecoin presents an attractive risk-to-reward ratio, with investors shifting capital to altcoins like Dogecoin.



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