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Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention

Crypto analyst Jaydee has made a bullish case for Dogecoin (DOGE) as he outlined several reasons why a significant price breakout may be on the horizon for the foremost meme coin. DOGE’s price saw a 370x gain the last time the indicators Jaydee highlighted materialized. 

Why Crypto Investors Should Pay Attention To DOGE

In a post on his X (formerly Twitter) platform, Jaydee noted three things that usually happen on the charts prior to DOGE experiencing a price breakout. The first indicator he mentioned was the Moving Average Convergence Divergence (MACD). According to him, There is always a MACD bullish cross before DOGE sees a parabolic move.

If so, then the Dogecoin rally may happen soon enough, as the crypto analyst mentioned that this indicator has been checked, suggesting that the bullish cross already happened. The second indicator he highlighted was the Average Sentiment Oscillator (ASO). There is usually an ASO cross before the meme coin makes a significant move to the upside.

However, unlike the MACD bullish cross, which seems to have already happened, this indicator is yet to materialize, as Jaydee stated that he is still awaiting this. This indicator looks like the only thing that is holding the potential DOGE breakout since the last and third indicator the crypto analyst referenced has already been “checked,” too.

This third indicator is DOGE’s price breaking out of its multi-year trendline. From the accompanying chart, which the analyst shared, DOGE saw parabolic moves in 2017 and 2021 when this happened. 2021 also happened to be the year that the meme coin rose to its all-time high of $0.7.

With a parabolic move on the horizon, Jaydee remarked that he will be paying attention to DOGE for the next months. Everything seems to be pointing to a bullish move for the meme coin, as the crypto analyst also stated that DOGE’s “chart structure is amazing.”

Dogecoin price chart from Tradingview.com

A DOGE Rally Is Long Overdue

DOGE’s price has been pretty tepid for a while as it continues to trade around the $0.09 price range. This shows that the meme coin is long overdue for a massive rally. That could happen soon as some price predictions hinted that 2024 was going to be a massive year for the crypto token. 

Crypto analyst Captain Faibik, in particular, had predicted that DOGE would see an “epic pump” this year that would see it revisit its all-time high. A move of such magnitude means that the crypto token could see a massive gain of 900% 

Meanwhile, Dogecoin is still on course to head to the moon as the ULA’s Vulcan Centaur Rocket, which would be carrying a physical Dogecoin, is scheduled for launch on January 8. Such development could potentially spark a surge in the crypto token’s price upon takeoff. 

At the time of writing, Dogecoin is trading at around $0.09286, up over 3% in the last 24 hours, according to data from CoinMarketCap. 

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Dogecoin Is Literally Going To The Moon: 100% DOGE Price Blast Expected

‘Dogecoin to the moon’ is a saying that anyone in the crypto community is familiar with. This is usually said figuratively in relation to the DOGE price actually surging. But Dogecoin is now actually headed to the moon – literally – after the official account confirmed the first DOGE space mission.

Strap In: Dogecoin Is Headed To The Moon

On Thursday, November 16, the official Dogecoin account on X (formerly Twitter, confirmed that a mission that will be taking the meme coin to the moon has now been confirmed. The mission is being orchestrated by Astrobotic Technology, a robotics company headquartered in Pennsylvania.

The details of the mission included in the post include the fact that a physical Dogecoin is being included in the DHL Moonbox via ULA’s Vulcan Centaur Rocket which is set to take off on December 24, 2023. The DHL Moonbox is a memento box that carries different keepsakes to take to the moon.

According to data from Astrobotic Technology, the DHL Moonbox headed to the moon in December has been filled with items from all around the world, including the United States, Germany, Canada, etc. Upon the completion of the mission, DOGE will be the first cryptocurrency to be sent to the moon, marking an important milestone for the meme coin.

DOGE price chart from Tradingview.com (Dogecoin to the moon)

DOGE Price Ready To Double

The Dogecoin price is already in a position where it is expected to surge. But the confirmation of the Dogecoin on the moon mission has added fuel to the fire. Following the announcement, the DOGE price jumped above $0.83 for the first time in four years.

Crypto analyst Crypto Kaleo earlier shared an analysis of the Dogecoin price that puts it above $0.15. According to Kaleo, DOGE is expected to move very fast and will hit $0.09 to $0.1 first, before continuing on to the $0.15 target.

Kaleo bases his analysis on the DOGE/BTC chart where he says; “I’m just looking for a touch of HTF resistance on the BTC pair around 550 sats.” This is apparently the confirmation of the rally that the crypto analyst thinks could possibly push the price to $0.2.

Dogeocoin’s daily volume is already up more than 50% in the last day alone, suggesting a higher level of interest from investors. Once sellers’ fatigue kicks in and demand rises, DOGE could clear the $0.09 level before the end of the day.

At the time of this writing, the DOGE price is sitting at $0.0804, with 7.86% gains in the last day. It is the 9th-largest cryptocurrency in the market with a market cap of $11.4 billion.