Trader Tardigrade, a seasoned crypto analyst, has identified a compelling historical trend with Dogecoin (DOGE): the cryptocurrency tends to experience significant price surges after breaking above its previous highest monthly closing price. Here are the key observations:
What you'll learn 👉
Historical Price Surges
2017 Surge: After surpassing its highest monthly close, DOGE price gained approximately 1000% over the subsequent 8 months.
2021 Rally: An even more dramatic increase occurred when DOGE spiked by an astonishing 8000% in just 4 months following a similar breakout above its previous high.
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Current Situation
As of the latest analysis, DOGE has once again exceeded its previous highest monthly closing price. This event has ignited speculation regarding a potential repeat of past performance, with two hypothetical scenarios presented:
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Scenario 1: A 1000% increase over the next 8 months, echoing the 2017 trend.
Scenario 2: An 8000% increase within the next 4 months, reminiscent of the 2021 rally.
The analyst’s insights suggest that if historical patterns are reliable indicators, DOGE could be on the brink of a substantial price surge.
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