Dogecoin, a popular meme cryptocurrency, is on the verge of a potential 18,000% surge, according to independent crypto analyst Kevin. Kevin has identified a bullish technical indicator for Dogecoin, suggesting the emergence of a golden cross within the next two to three weeks.
The last time Dogecoin experienced a golden cross was in May 2021, resulting in a massive price surge of over 18,000%. If history were to repeat itself with another golden cross, Dogecoin could potentially reach a price of around $23.40 per coin, leading to a market capitalization exceeding $3.48 trillion.
Additionally, analyst Ali has noted a breakout from a wedge pattern for Dogecoin, indicating further gains of up to 44%. This breakout suggests a potential reversal in the cryptocurrency’s price trend, reflecting a bullish sentiment in the market.
As of July 25th, Dogecoin was trading near $0.128, with a 1.79% increase over the past day. The daily chart shows positive indicators, such as the 20-day SMA starting to turn upward and the RSI in positive territory, giving bulls a slight edge. If the bounce off the 50-day SMA holds, the price could rise to $0.15 and then to $0.18.
On-chain metrics for Dogecoin also signal bullish momentum, with an increase in active and new addresses, indicating growing network participation. Exchange volume data shows significant trading activity in the $0.12 to $0.20 price range, suggesting high liquidity and potential price volatility.
Overall, Dogecoin’s total value locked stands at $4.35 million, with $2,333 in fees generated over the past 24 hours. The current price is $0.13, with a market cap of $18.603 billion, closely matched by the fully diluted valuation of $18.605 billion.