The post Dogecoin Forms ‘Second Low’ That Could Trigger 4,000% Rally Above $4 appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE), the largest meme-based cryptocurrency by market capitalization, has recently formed a second low, suggesting that the meme coin could be gearing up for a potential 4,000% rally to new all-time highs above $4.  Dogecoin Second Low Could Signal Big Gains Ahead Trader Tardigrade, a crypto analyst, told his 55,100 followers on X (formerly Twitter) that Dogecoin has officially formed a second low after touching a crucial support level. He shared a price chart illustrating Dogecoin’s price movements since 2014, highlighting periods where the meme coin had formed a first and second low after hitting a key support level, which then led to a massive price surge.  Source: X From 2014 and 2017, Dogecoin found support in 2015, followed by a second low in 2017, which triggered a substantial price rally that same year. A similar pattern played out between 2018 and 2021, with Dogecoin reaching a critical support level in 2020, forming a second low in 2021, and then skyrocketing in value that year.  Following this historical trend, Trader Tardigrade questions whether Dogecoin might follow a similar price pattern or if this time will be different. The cryptocurrency has already hit a key support level in 2023, and recently established its second low, hinting that it may be preparing for a dramatic price increase.  Reviewing the price chart, the analyst points to a rally to the upside, suggesting that DOGE could potentially witness a staggering 4,000% price surge above $4 during this bull cycle.   When asked by a crypto community member if this bullish price breakout might occur on November 6, after the end of the United States Presidential elections and a potential Donald Trump win, Trader Tardigrade responded simply with, “Not a bad guess.”  The analyst has remained highly optimistic about Dogecoin’s future outlook, suggesting in a…

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Filed under: News - @ September 5, 2024 3:27 am