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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Dogecoin Is Bullish? Crypto Analyst Gives Reasons Why Investors Should Pay Attention

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Dogecoin

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Crypto analyst Jaydee has made a bullish case for Dogecoin (DOGE) as he outlined several reasons why a significant price breakout may be on the horizon for the foremost meme coin. DOGE’s price saw a 370x gain the last time the indicators Jaydee highlighted materialized. 

Why Crypto Investors Should Pay Attention To DOGE

In a post on his X (formerly Twitter) platform, Jaydee noted three things that usually happen on the charts prior to DOGE experiencing a price breakout. The first indicator he mentioned was the Moving Average Convergence Divergence (MACD). According to him, There is always a MACD bullish cross before DOGE sees a parabolic move.

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If so, then the Dogecoin rally may happen soon enough, as the crypto analyst mentioned that this indicator has been checked, suggesting that the bullish cross already happened. The second indicator he highlighted was the Average Sentiment Oscillator (ASO). There is usually an ASO cross before the meme coin makes a significant move to the upside.

However, unlike the MACD bullish cross, which seems to have already happened, this indicator is yet to materialize, as Jaydee stated that he is still awaiting this. This indicator looks like the only thing that is holding the potential DOGE breakout since the last and third indicator the crypto analyst referenced has already been “checked,” too.

This third indicator is DOGE’s price breaking out of its multi-year trendline. From the accompanying chart, which the analyst shared, DOGE saw parabolic moves in 2017 and 2021 when this happened. 2021 also happened to be the year that the meme coin rose to its all-time high of $0.7.

With a parabolic move on the horizon, Jaydee remarked that he will be paying attention to DOGE for the next months. Everything seems to be pointing to a bullish move for the meme coin, as the crypto analyst also stated that DOGE’s “chart structure is amazing.”

Dogecoin price chart from Tradingview.com

DOGE bulls gaining control | Source: DOGEUSD On Tradingview.com

A DOGE Rally Is Long Overdue

DOGE’s price has been pretty tepid for a while as it continues to trade around the $0.09 price range. This shows that the meme coin is long overdue for a massive rally. That could happen soon as some price predictions hinted that 2024 was going to be a massive year for the crypto token. 

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Crypto analyst Captain Faibik, in particular, had predicted that DOGE would see an “epic pump” this year that would see it revisit its all-time high. A move of such magnitude means that the crypto token could see a massive gain of 900% 

Meanwhile, Dogecoin is still on course to head to the moon as the ULA’s Vulcan Centaur Rocket, which would be carrying a physical Dogecoin, is scheduled for launch on January 8. Such development could potentially spark a surge in the crypto token’s price upon takeoff. 

At the time of writing, Dogecoin is trading at around $0.09286, up over 3% in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Bankrate, 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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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

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