Days back, Dogecoin, the largest dog-themed meme coin, witnessed a notable setback, causing a sharp drop in its price to critical support levels. Despite the recent waning performances, several key developments suggest that DOGE might be preparing for its next major rally to new heights in the short term.

A Robust Rally To Higher Levels Incoming For Dogecoin

Although Dogecoin is struggling to move upward, seasoned market expert and investor Kevin foresees a bullish outlook for DOGE in the near term. In his analysis, Kevin cited crucial indicators that point to the time frame that the much-anticipated next surge could begin for the meme coin.

Referencing past cycle trends and present price conditions, the expert’s prediction implies that the current consolidation phase might be ending shortly. With key indicators showing rising momentum, the expected upswing may fuel a much larger rally, pushing the meme coin to unprecedented levels.

Examining Dogecoin’s current price action, Kevin highlighted that DOGE has risen above the crucial level of 43 on the daily Relative Strength Index (RSI). According to the expert, Dogecoin never dropped below level 43 on the daily RSI during the last bull market. 

Specifically, the 43 level on the daily RSI is critical since this was the bounce zone that resulted in three consolidation phases that led to new highs. Recent data shows that the meme coin‘s daily RSI has increased to level 47.

Furthermore, Kevin noted that througho

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Author: Godspower Owie