DOGE Surges 445% Last Time This Indicator Activated
Dogecoin is poised for potential gains as it displays a bullish signal similar to past instances where it witnessed significant price increases.
Key Highlights:
- Dogecoin’s price previously surged by 445% following the activation of a similar bullish cross in the RSI.
- Analysts forecast a potential breakout targeting $0.65 in the near future.
- Experts are optimistic about DOGE reaching $1 in the upcoming months.
Dogecoin’s Relative Strength Index (RSI) signalled a bullish momentum in Q4 2024, leading to a 445% price increase. The same bullish indicator is evident on the charts currently, signaling possibilities of further price surges.
Previous DOGE Flights: 300% and 445% Gains
The RSI is an established tool in technical analysis that aids traders in discerning price trends. Historical data reveals that DOGE often indicates substantial price hikes whenever the RSI crosses above its simple moving average (SMA).
BTC/USD Monthly Chart
BTC/USD monthly chart. Source: Cointelegraph/ TradingView
Analyst Mikybull Crypto remarked, “Whenever this signal appears on $DOGE, take notice.” He added:
“This suggests a substantial move is about to happen.”
The bullish cross aligns with the price retesting the 20-period SMA, which typically foreshadows significant upward movement. Mikybull later stated, “$DOGE is gearing up for $1, with a bullish trend imminent.”
Are We Looking at a 160% Surge for DOGE?
With an ascending triangle pattern on the two-day chart suggesting growing bullish sentiment, targets are set around $0.65, indicating a 161% upswing from current levels.
DOGE/USD Two-Day Chart
DOGE/USD two-day chart. Source: Cointelegraph/ TradingView
Analyst Mags points to increased institutional interest within Dogecoin treasury companies as a key factor for potential gains, along with upcoming spot ETF approvals expected in mid-October.
According to Mags, “The ‘God candle’ for Dogecoin is on the way.”
Accompanying charts indicate that a breakout from the recent downtrend could push DOGE past its all-time highs of 2021, approaching $1.20.
"$DOGE surpassing $1 is inevitable."
As noted, various on-chain and technical indicators hint at a rally for DOGE prices by Q4 2025.
Disclaimer: This article does not provide investment advice. As always, investments carry risks, and readers are encouraged to conduct personal research before making decisions.
