Dogecoin Rise? DOGE Price Chart Forms Golden Cross for the First Time Since November

Meme coins may soon heat up as the leading currency, Dogecoin, has formed a golden cross pattern, signaling a major bullish trend ahead. A Golden Cross occurs when the 50-day simple moving average (SMA) of an asset's price moves above the 200-day SMA. This crossover indicates that short-term momentum is currently outpacing the long-term trajectory, with the potential to develop into a strong bullish rally. The moving average of Dogecoin has formed a bullish golden cross at the beginning of today’s trading session. Although the golden cross is considered a positive indicator, it has a mixed track record of predicting trends across most markets, including stocks, Bitcoin, and DOGE. This makes it unreliable as an independent indicator.

However, most of the previous major fluctuations of DOGE occurred when a golden cross pattern appeared. For example, the price increased by more than 130% to 46 cents in the four weeks following the golden cross pattern on November 6, 2024. The price rose by 25% in the four weeks after the bullish MA on November 22, 2023. Similarly, a golden cross pattern occurred in early November 2020, marking the beginning of a major bullish trend lasting four months, witnessing a price increase of over 1,000% within four months. Let's see if history repeats itself.

DOGE5.45%
CROSS-5.33%
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