With optimism steadily returning to the cryptocurrency market, Dogecoin (DOGE) is emerging as a key focus, with technical indicators pointing to the potential for a major rally.
After months of consolidation, the meme coin appears primed for a substantial breakout, supported by historical price trends and strengthening momentum indicators.
A recent analysis by Trader Tardigrade highlights the Chande Momentum Oscillator (ChandeMO) as a key indicator, suggesting bullish outlook that aligns with Dogecoin’s most explosive rallies in previous cycles.
ChandeMO hints at bullish momentum
The Chande Momentum Oscillator, which measures price acceleration and momentum, has historically been a reliable predictor of Dogecoin’s major price surges.
Trader Tardigrade’s analysis notes that the oscillator is currently flashing a bullish signal, echoing the conditions that triggered DOGE’s parabolic rallies in 2017 and 2021.
Notably, the ChandeMO indicates that DOGE has yet to reach the overbought levels seen in prior cycles, pointing to ample room for further growth. This technical confluence aligns with broader market recovery trends, further supporting the case for a sustained rally.
“Dogecoin is set to finish the final stage of the Bull Run.The Chande Momentum Oscillator (ChandeMO) indicates that $Doge still has a LONG way to go to reach the top in this cycle”
–Trader Tardigrade
Crypto analyst Ali Martinezalso noted parallels between DOGE’s current setup and its past cycles. Martinez pointed out that during the last bull run in January 2021, Dogecoin surged into its second leg up following a 56% correction.
For now, Dogecoin’s ability to sustain its rally will depend on broader market sentiment, increased retail interest, and maintaining its current momentum in the competitive digital asset space.
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