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Dogecoin Set for Big Move? Bollinger Bands Hint at 380% Rally

DOGE price chart

TL;DR

  • Dogecoin’s Bollinger Band Width reenters historic rally zone, signaling potential surge between $0.41 and $0.97.
  • CleanCore Solutions surpasses 500M DOGE holdings, aiming for 1B tokens inside 30 days.
  • Rex-Osprey Doge ETF faces a launch delay however stays on observe to change into the primary spot DOGE fund.

Bollinger Band Signal Reappears

Dogecoin’s weekly chart has entered a zone that has beforehand marked the beginning of main rallies. Trader Tardigrade mentioned,

The indicator is again at that threshold, signaling the potential for one other large swing. Past examples present positive aspects of 206%, 378%, and 100% after the identical situation. Using these strikes as a reference, potential targets vary between $0.41 and $0.97. With Dogecoin buying and selling close to $0.26, there’s room for growth if volatility returns.

Analyst Javon Marks pointed to structural similarities between the present setup and earlier Dogecoin cycles going again to 2014. His chart exhibits sequences of falling wedge formations, adopted by brief consolidation phases, that preceded sturdy rallies to new highs.

Marks commented that DOGE “LOOKS READY FOR LAUNCH!” and charted a inexperienced arrow displaying a potential breakout path. The suggestion is that historical past might repeat, with Dogecoin breaking its vary to pursue greater ranges.

Market Activity and Breakout Signs

Dogecoin was buying and selling at $0.26 at press time, with each day turnover above $4 billion. The token has risen 4% prior to now 24 hours and practically 20% over the week. BitGuru observed,

“$DOGE has damaged out strongly after forming a double backside close to assist, surging previous $0.26.”

DOGE price chart
Source: BitGuru/X

Meanwhile, that transfer cleared earlier rejection zones, and momentum now seems to favor patrons. Traders are watching whether or not Dogecoin can preserve energy because it approaches resistance in greater ranges.

Treasury Accumulation and ETF Delay

Corporate shopping for has additionally added to the market narrative. CleanCore Solutions reported that it now holds greater than 500 million DOGE after buying $130 million price of tokens on Thursday. The firm goals to accumulate one billion DOGE inside a month, having already purchased 285 million earlier within the week.

Separately, the Rex-Osprey Doge ETF (DOJE), anticipated to be the primary spot ETF for Dogecoin, was scheduled to launch on Thursday however was postponed. Bloomberg analyst Eric Balchunas said the fund will now start buying and selling subsequent week, citing scheduling delays.

The put up Dogecoin Set for Big Move? Bollinger Bands Hint at 380% Rally appeared first on CryptoPotato.

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