Dogecoin Primed for Explosive Rally as Key Indicator Flashes Pre-Surge Signals Dogecoin (DOGE) is showing strong technical indicators pointing towards a potential major price surge, according to recent analysis. The meme-inspired cryptocurrency's Relative Strength Index (RSI) has returned to levels that historically preceded significant rallies, sparking optimism among traders and market observers.
Dogecoin's RSI Echoes Past Breakouts
Market analyst Trader Tardigrade highlights that Dogecoin's latest two-week chart analysis reveals its RSI has settled into a low range, strikingly similar to patterns observed before previous explosive price rallies since 2023. This recurring behavior suggests Dogecoin might be in an early accumulation phase, building momentum for another upward movement. The asset's price has consistently held above a long-standing support trendline drawn from mid-2023, undergoing multiple retests without breaking down. This resilience underscores its underlying technical strength and has led to the formation of higher highs and higher lows. Even a brief dip below the trendline in October was swiftly recovered, reinforcing the stability above the $0.17 price level.
Anticipating the Next Price Target
Should this technical pattern between RSI and price action maintain its consistency, Dogecoin is positioned for its third notable bullish run since early 2024. Historically, these rallies have unfolded over multiple weeks, with the last significant surge pushing DOGE to approximately $0.5 in December 2024. Building on this precedent, analysts project a potential target around $0.8 for Dogecoin. Such a move would represent a substantial 228% increase from its current trading price of $0.1877 and could potentially establish new all-time highs for the popular cryptocurrency.
