Dogecoin: Doge Could See a 90% Rally This Quarter
Contributor
- Historical patterns for DOGE/BTC suggest a bullish fourth quarter for Dogecoin.
- The percentage of Dogecoin long accounts is in the 96th percentile.
Dogecoin [DOGE], the largest memecoin, is preparing for a strong finish to the year as the overall crypto market begins to recover from a recent downturn caused by geopolitical tensions between Israel and Iran.
DOGE is anticipated to outpace other memecoins during this rally. Historical trends in the DOGE/BTC pair indicate that we may be entering an intriguing phase for Dogecoin.
In previous instances, DOGE price surges commenced 235 days post Bitcoin’s halving, yielding substantial profits on two occasions.
This year’s emergence of a similar trend raises speculation about whether DOGE could experience gains exceeding 90% in this final quarter.
Source: Sanki/X.
The recurring nature of this trend strongly indicates that Dogecoin is likely to perform well in Q4.
Dogecoin RSI recovery
A divergence—typically signifying a potential trend reversal or continuation—is a pivotal element bolstering this optimistic projection.
For DOGE, traders anticipate momentum shifting towards bullish. This divergence was noted while Dogecoin traded beneath its 200-week average.
The Relative Strength Index has bounced back from oversold levels, suggesting now is an opportune moment for long positions. Analysts expect DOGE could achieve similar returns as seen in past cycles, potentially exceeding 90% growth.
Source: TradingView.
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Percentage of long accounts strong > h2 >
The current share of DOGE long accounts serves as another critical metric indicating optimism for Q4 performance.
According to Hyblock data, the share of long positions has remained consistently high over the last day at around 96%. This stability signifies that bullish traders maintain control over sentiment surrounding DOGE.
Source: Hyblock.
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Moreover, there’s been a slight uptick in lengthy account percentages which impacted open interest negatively with minor declines observed. Such dips often signal an exit from short positions within markets and lend further credence towards maintaining an optimistic outlook on Dogecoin
Smart money vs crowd sentiment h2 >
(Simply put) Several entities comprising both institutional investors and regular consumers appear unifiedly positive regarding prospects associated with DOGELONG term:
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Read next week’s forecast fo’ D O G E prediction present we forecasting period”
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