Dogecoin has shown remarkable growth in the ongoing bull cycle. Many crypto enthusiasts continue to demonstrate robust confidence in the DOGE’s potential as they predict a major growth for the dog-themed meme coin in the short term, allowing it to catalyze a general altcoin market rally.

Chart Pattern Signals Robust Performance For Dogecoin

With key indicators showing a bullish outlook for Dogecoin, Trader Tardigrade, a market expert and investor has underlined DOGE’s potential to dominate the altcoin market, even surpassing Bitcoin, the largest crypto asset. 

Given the momentum building on the Dogecoin Dominance on Bitcoin Dominance (DOGE.D/BTC.D) chart, he asserted that the meme coin may be on the verge of igniting a broader altcoin rally. His forecast hinges on the emergence of a bullish chart pattern, particularly the Falling Wedge formation on the DOGE.D/BTC.D weekly chart.

A falling wedge formation is a bullish pattern that points to a reversal of a downward trend, which forms a converging descending trendlines of lower highs and lower lows. Given that the pattern typically precedes a strong recovery trend, Dogecoin might undergo a notable reversal soon, thereby strengthening its dominance.

According to the expert, the falling wedge formation is currently supported by a key level, bolstering a bullish breakout from the pattern. As a result, Trader Tardigrade is confident that DOGE could outperform Go to Source to See Full Article
Author: Godspower Owie

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