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After buying and selling in a comparatively quiet vary for a lot of April, Dogecoin has started May on a good note. The meme coin has surged over 33% this week, pushing above the $0.22 stage because of a brand new wave of bullish momentum amongst retail and institutional merchants.
Amid this restoration, technical indicators are flashing a well-recognized sign that has led to huge value will increase for Dogecoin since 2024. The newest evaluation from in style crypto chartist Dealer Tardigrade has introduced consideration to a attainable inflection level: a bullish MACD crossover on the weekly timeframe.
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MACD Sign Returns, Factors To Explosive Upside For Dogecoin
Attributable to its efficiency since October 2023, the MACD (Shifting Common Convergence Divergence) indicator has change into a useful software for recognizing momentum shifts in Dogecoin’s value cycles. It’s now flashing bullish as soon as once more. The crossover, the place the MACD line crosses above the sign line, has coincided with the start of highly effective uptrends because the present cycle started in This autumn 2023.
In accordance with Trader Tardigrade’s chart, the final two confirmed MACD crossovers on the weekly timeframe led to rallies from $0.06 to $0.23 and from $0.086 to $0.48, respectively. Every of those rallies adopted a interval of deep corrections, circumstances just like what Dogecoin has witnessed since March 2025.
The primary MACD crossover on this cycle was in October 2023, which resulted in a 285% rally. The second MACD crossover was in September 2024, which led to an even bigger rally of about 460%, throughout which Dogecoin surged to multi-year highs of $0.48.
The chart additionally reveals that these MACD crossovers occurred after a rounded backside sample. The present value construction seems like that setup, with a better low rounded backside and the blue MACD line about to cross to the upside of the orange line.
This lends sturdy credence to the notion that Dogecoin could possibly be on the cusp of another rally, significantly as the general crypto market sentiment is now optimistic following Bitcoin’s break above $100,000 again.
Picture From X: Trader Tardigrade
Eyes On $1: Can MACD Rally Repeat One Extra Time?
Now that the MACD crossover is sort of underway, the apparent query is whether or not this will trigger Dogecoin to finally reach the elusive $1 mark.
The projected $1 goal lies on a long-term ascending resistance trendline that guided the $0.23 and $0.48 tops this cycle. If the sample holds, and Dogecoin’s MACD crossover performs out because it has prior to now, the meme coin is likely to be at the moment firstly of a 3rd impulsive transfer. The analyst’s chart attracts a projected trajectory that extends toward $1 by mid-year, following a path just like the opposite rallies.
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Reaching the $1 goal would require a value surge of about 335% from present ranges round $0.23. On the time of writing, Dogecoin is buying and selling at $0.2335, up by 3.4% prior to now 24 hours and an intraday excessive of $0.2569.
Featured picture from Unsplash, chart from TradingView
Scott Matherson Read More
