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Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Dogecoin Forming First Golden Cross In 4 Years, Is A 3700% Rally To $3.8 Possible?

Scott Matherson
Scott Matherson
9 months ago
2 mins read
Dogecoin

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Dogecoin could be gearing up for another major surge in price as the meme coin’s chart shows the formation of a major pattern. The Golden Cross pattern is a major bullish formation on a chart that usually precedes a notable rally for digital assets such as DOGE. Currently, the Dogecoin price is forming its first golden cross in four years, making this an important development for the meme coin’s price.

Dogecoin Analyst Points out Golden Cross

Dogecoin analyst Kevin Capital on X (formerly Twitter) has highlighted an important formation on the Dogecoin chart. According to the crypto analyst, the movement of the DOGE price over the last few months has been pushing it toward the formation of a Golden Cross.

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Now, a Golden Cross pattern is usually formed when a short-term moving average such as the 50-day moving average and a long-term moving average such as the 200-day moving average crosses. It usually happens that the short-term moving average crosses the long-term moving average from below.

Presently, the short-term MA and the long-term MA are yet to cross, but the Golden Cross formation looks to be in the works. In the post, Kevin explains that the Golden Cross formation may happen in the next few weeks. Once this happens, it could signal the start of a bullish recovery, and according to Kevin, it would be the first Golden Cross in four years.

DOGE Price Could Touch $3.8

The completion of the Golden Cross pattern could be the catalyst that sets the Dogecoin price on a path to a new all-time high. The first target for the Dogecoin price with this formation is $0.93. This would be an almost 1,000% increase from the current level, just around $0.1.

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It doesn’t end there, however, as the crypto analyst believes that there is a possibility that the Dogecoin price will go higher than this. In what he calls a “Huge out performance,” he says that the DOGE price could cross $2.2 if this happens. This would be an over 2,000% increase.

The third and final target for the Dogecoin price with the Golden Cross formation is $3.8. The analyst explains, though, that it would take an “astronomical performance” for this to happen. Nevertheless, this would mean an over 3,700% increase from here.

However, the crypto analyst explains that the Dogecoin price reaching these levels depends on “how this economic liquidity cycle pans out.” The current Dogecoin all-time high is $0.73, which means an 800% increase from here will solidify a new high.

Dogecoin price chart from Tradingview.com
DOGE price secures $0.1 support | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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