Recent market activities saw Dogecoin rebounding from a multi-month low, following a broad sell-off wiping out significant value. Despite a nearly 40% drop, it found support at $0.22.
Analyst Trader Tardigrade suggests that this trendline support may mark a cycle bottom, potentially leading to future gains. Tardigrade's analysis, shared on X, indicates a possible rebound due to historical trends, with a key $2 target price.
Past patterns show Dogecoin's resilience post-pullbacks, hinting at an eventual strong rally. Breaking above $0.3 would be the initial step for a bullish outlook, with $2 as a speculative target.
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