Although the majority of the cryptocurrency market has entered a period of bearish trading, Dogecoin (DOGE) is no exception, but a specific chart pattern indicator has turned green for the popular doge meme token, printing the signal for the possibility of a massively bullish rally in its future.
As it happens, the Gaussian Channel (GS) has just turned green on the Dogecoin weekly chart, and upon the trend’s conclusion, DOGE “will surge incredibly,” according to the observations shared by renowned pseudonymous crypto trading expert Trader Tardigrade in an X post on June 20.
DOGE Gaussian Channel pattern. Source: Trader Tardigrade
Indeed, the currently eighth-largest asset in the crypto sector by market capitalization entering this pattern, based on statistical concepts that predict price trend directions in financial markets, is a potentially bullish signal and suggests a possible reversal of the prevailing bearish trend.
DOGE price year-to-date (YTD) price chart. Source: Finbold
All things considered, Dogecoin could, indeed, follow the patterns that have led it to record highs before, but it is important to keep in mind that trends in the crypto industry can change without warning, so doing one’s own research and being aware of all the risks is critical when investing.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
