The Dogecoin (DOGE) vs Bitcoin (BTC) chart has produced a significant signal, suggesting a potential price increase for Dogecoin. Historically, DOGE tends to rise when Bitcoin declines, reaching new highs.
Currently, Dogecoin is trading at $0.44, just 40% shy of its all-time high. Several signals indicate DOGE might surpass its previous peak.
A bull flag pattern on the DOGE/BTC chart suggests a bullish continuation. This pattern typically leads to a price surge after a period of downward consolidation.
The DOGE/BTC pair has broken out of its consolidation phase. If the trend continues, the pair could climb significantly, erasing a zero off its current rate.
The DOGE/USD chart further supports a bullish outlook, with the Money Flow Index (MFI) climbing, indicating increased market momentum and demand.
Crypto analyst Rekt Capital highlights DOGE's retest of an ascending triangle's upper boundary, signifying a potential breakout.
Dogecoin is currently trading above the 20-period and 50 EMA on the daily chart, maintaining a bullish trend.
If the uptrend persists, DOGE's value could potentially reach $1. However, a downturn against BTC might see a retreat to $0.32.
