Although the previous 24 hours have been marked by a decline for Dogecoin, the meme coin has delivered a strong performance over the previous week. The memecoin rallied from a May low of $0.16428 to a excessive of $0.259 on May 23, flipping a key resistance stage round $0.22 that beforehand capped its development since late April.
This breakout comes as broader market sentiment shifts bullish, with a number of major altcoins also registering gains.
Interestingly, technical evaluation reveals that Dogecoin nonetheless has a whole lot of room to run this yr when it comes to value motion, with cycle evaluation pointing to $3 before the end of 2025.
Monthly MA50 Rebound Mirrors 2017 And 2021 Cycles
A technical analysis posted by InvestingScope on the TradingView platform confirmed that Dogecoin has simply rebounded from the 1M MA50, a long-term shifting common that performed an necessary position in launching its previous explosive rallies.
The evaluation appears to be like at Dogecoin’s value motion since its launch in December 2013 and highlighted three cycles, with the primary two cycles resulting in new value highs.
As proven by the Dogecoin month-to-month candlestick chart reveals, Dogecoin bounced off the 1M Moving Average 50 in September 2017 and once more in February 2021. Notably, each rebounds marked the ultimate retest zones earlier than the meme coin surged greater than 2,400% to new all-time highs.
This similar setup has now returned in 2025, with the month-to-month MA50 performing as help as soon as once more round $0.13. The similarity in value construction has opened up the chance that the meme coin is repeating the identical bullish cycle that previously carried it from beneath $0.002 to $0.73. Should this fractal sample play out once more, this may result in a parabolic rise above $3 earlier than the tip of the yr.
$3 Target Based On Average Cycle Rally Of 2,600%
Each of the earlier cycle rallies adopted an accumulation part with consolidation close to the 1M MA50, adopted by a sudden explosion in value. The first rally in 2017 pushed the Dogecoin value from $0.0007 to $0.01827 over the house of two months, which is a 2,824% return from backside to prime.
Similarly, the bounce off the 1M MA50 in 2021 led to a 2,403% run from backside to prime and peaked at $0.73. Applying an identical share achieve to the latest low round $0.13 would place the following cycle prime close to the $3.00 mark.
The analyst additionally cited strong technicals on the daily timeframe to help this outlook. The RSI studying of 64.264, mixed with a optimistic Moving Average Convergence Divergence (MACD) of 0.014 and an Average Directional Index (ADX) above 32, signifies rising bullish energy for Dogecoin.
Dogecoin is at present priced at $0.2279 after shedding 6.9% over the previous 24 hours. This pullback has introduced the value close to a possible retest of the previous resistance at $0.22.
Featured picture from Unsplash, chart from TradingView
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