3 hours ago
Meme cryptocurrencies whitethorn soon vigor up arsenic their leader, dogecoin (DOGE), has formed a aureate cross, hinting astatine a large terms surge ahead.
A aureate transverse occurs erstwhile the 50-day elemental moving mean (SMA) of an asset's terms moves supra the 200-day SMA. The crossover indicates that the short-term momentum is present outperforming the longer trajectory, with the imaginable to germinate into a large bull run.
Dogecoin's averages crossed bullish aboriginal today. While the aureate transverse is seen arsenic a affirmative indicator, it has a mixed record of predicting trends successful astir markets, including equities, bitcoin and DOGE. That makes it unreliable arsenic a standalone indicator.
That said, astir of DOGE's erstwhile large moves unfolded with the quality of the aureate cross. For instance, prices surged implicit 130% to 46 cents successful 4 weeks pursuing the occurrence of the aureate transverse connected Nov. 6, 2024. Prices surged 25% successful 4 weeks aft the averages crossed bullish connected Nov. 22, 2023.
Similarly, a aureate transverse happened successful aboriginal November 2020, marking the onset of a large four-month bull tally that saw prices rally implicit 1,000% successful 4 months.
Let's spot if past repeats itself.
Read more: Sharp 7% Drop Sends DOGE Toward 22-Cents Support connected High-Volume Selloff
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