Top Analyst Says Massive Dogecoin Pump Looming Amid MACD Breakout, Targets $1
Dogecoin looks set for a massive rally to uncharted territories as a prominent market analyst identifies the recent MACD breakout as a catalyst.Dogecoin is currently the best-performing asset among the top 10 crypto rankings by market cap in the last seven days. The largest meme coin by market cap has surged an impressive 12.63%, dwarfing gains from market leaders Bitcoin, Ethereum, and XRP.With recent gains, DOGE has rebounded 37% from its intra-month low of $0.1432, rewarding investors who bought the dip. Nonetheless, according to analytical insight from prominent market watcher Trader Tardigrade, there may be room for higher prices.Dogecoin Pump Incoming?In a March 25 X post, Trader Tardigrade asserted that Dogecoin could extend its recent form to unprecedented price highs. This is because the doggy-themed meme coins moving average convergence divergence (MACD) recently defied a triangular consolidation.DOGEs MACD, which shows the difference between the 26-day and 12-day exponential moving averages (EMA), trended between a symmetrical triangle from early February and broke out last week, indicating a momentum shift. The analyst suggested this could spell a parabolic expansion, citing Dogecoins price action when a similar event occurred last year.The perspective from an accompanying chart indicates that Dogecoins late 2024 surge materialized from a MACD breakout in September. Notably, the prominent meme coin surged 424% from the breakout point to its December high of $0.4846.
Text source: The Crypto Basic
