FameEX Hot Topics | This Indicator Just Flashed Green: The Last Time, DOGE Gained 445%

Dogecoin (DOGE) has demonstrated remarkable price movements in the past when its monthly Relative Strength Index (RSI) produced a bullish cross, and this signal has emerged once again, raising expectations for another potential rally. Historically, whenever the RSI crosses above its simple moving average (SMA), DOGE has experienced substantial price surges. The last two instances of this event led to massive gains for the cryptocurrency: in Q4 2024, DOGE saw a 445% increase, and between October 2023 and April 2024, it experienced a 302% rise.

Currently, a similar price pattern, or fractal, is forming on the DOGE charts, hinting at a potential breakout in the near future. The RSI is a popular momentum indicator used in technical analysis to assess the strength and direction of a trend in an asset’s price. A bullish crossover, where the RSI line crosses above the SMA, has historically been a precursor to major price movements for DOGE, signaling a possible continuation of this trend.

Prominent analyst Mikybull Crypto has noted that whenever this bullish signal appears on the DOGE chart, traders should take notice. This time, the RSI’s bullish cross is occurring alongside the price retesting the 20-period simple moving average, a pattern that has often preceded significant bullish moves. Mikybull Crypto has stated that this setup suggests DOGE could experience another substantial price surge, with predictions pointing toward the cryptocurrency reaching the $1 mark in the coming weeks.

Looking forward, analysts are optimistic about DOGE’s price trajectory, with some projecting even higher gains. The appearance of an ascending triangle on the two-day chart signals a strengthening bullish trend, with price targets reaching as high as $0.65, representing a 161% increase from current levels. Additionally, analyst Mags points to growing institutional interest in Dogecoin, including involvement from treasury companies and the potential approval of spot ETFs, which could drive DOGE past its 2021 all-time highs of $0.73, potentially pushing it to $1.20. With these factors in play, many analysts believe a significant bullish breakout for DOGE is imminent.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.