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Is Dogecoin Set to Explode? Raoul Pal Foresees Major Bullish Move Like Ripple’s XRP ⋆ ZyCrypto
The post Is Dogecoin Set to Explode? Raoul Pal Foresees Major Bullish Move Like Ripple’s XRP ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Raoul Pal thinks Dogecoin could be ready for a big move. He sees similarities between its chart and XRP’s, which made huge gains recently. Pal’s prediction has caught the attention of many investors, who wonder if DOGE is about to take off. With market uncertainty in the air, is Dogecoin primed for the next big rally? Dogecoin’s Quiet Phase Could Be Setting Up for a Breakout Since November 12, Dogecoin has been stuck in a narrow range, trading between $0.34 and $0.48. It hasn’t made any strong moves, but that could be a good sign. Raoul Pal believes the coin is forming a pattern similar to XRP’s previous chart. Similar patterns have led to huge breakouts in the past. Pal lists three major “falling wedge” patterns on Dogecoin’s chart. The first wedge formed from 2014 to 2017, leading to a big rally. The second one stretched from 2018 to 2021, pushing DOGE to its all-time high of $0.74. Advertisement   Now, the third wedge is being triggered from mid-2021 to 2024. In Pal’s words, this could be the beginning of another breakout. Pal believes that DOGE is primed again for a major move and that the technicals mirror what happened with XRP last year. If Dogecoin breaks through this wedge, Pal expects that it could experience a significant increase, similar to XRP. Pal is not the only one who has a positive outlook for Dogecoin. Trader Tardigrade is the other analyst and identifies a bullish pennant. This is a technical pattern usually followed by a sharp increase in price. Tardigrade has set a possible target price of $1.35 for DOGE if it breaks through now. The DOGE daily chart displays a lot of trading positivity in the right range, just below the upper Bollinger Band at $0.4519, which is a common…
The post Is Dogecoin Set to Explode? Raoul Pal Foresees Major Bullish Move Like Ripple’s XRP ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement Raoul Pal thinks Dogecoin could be ready for a big move. He sees similarities between its chart and XRP’s, which made huge gains recently. Pal’s prediction has caught the attention of many investors, who wonder if DOGE is about to take off. With market uncertainty in the air, is Dogecoin primed for the next big rally? Dogecoin’s Quiet Phase Could Be Setting Up for a Breakout Since November 12, Dogecoin has been stuck in a narrow range, trading between $0.34 and $0.48. It hasn’t made any strong moves, but that could be a good sign. Raoul Pal believes the coin is forming a pattern similar to XRP’s previous chart. Similar patterns have led to huge breakouts in the past. Pal lists three major “falling wedge” patterns on Dogecoin’s chart. The first wedge formed from 2014 to 2017, leading to a big rally. The second one stretched from 2018 to 2021, pushing DOGE to its all-time high of $0.74. Advertisement Now, the third wedge is being triggered from mid-2021 to 2024. In Pal’s words, this could be the beginning of another breakout. Pal believes that DOGE is primed again for a major move and that the technicals mirror what happened with XRP last year. If Dogecoin breaks through this wedge, Pal expects that it could experience a significant increase, similar to XRP. Pal is not the only one who has a positive outlook for Dogecoin. Trader Tardigrade is the other analyst and identifies a bullish pennant. This is a technical pattern usually followed by a sharp increase in price. Tardigrade has set a possible target price of $1.35 for DOGE if it breaks through now. The DOGE daily chart displays a lot of trading positivity in the right range, just below the upper Bollinger Band at $0.4519, which is a common…
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