Meme cryptocurrency may soon be hot as their leader dogecoin
formed a golden cross, hinting at a huge price surge in the future.
A golden cross occurs with a simple moving average of 50 days (SMA) The price of the asset exceeds the 200-day SMA. The crossover shows that the short-term momentum is outweighing the long trajectory and could evolve into a major bull run.
Dogecoin averages bullished early today. Golden Cross is considered a positive indicator, but it has a complex record of predicting trends in most markets, including stocks, Bitcoin and Doge. This makes it less reliable as a standalone indicator.
That said, most of Doge’s previous big moves unfolded with the arrival of Golden Cross. For example, after the Golden Cross happened on November 6th, 2024, the price went from 130% to 46 cents in four weeks. Prices rose 25% in the four weeks since the average became bullish on November 22, 2023.
Similarly, a Golden Cross occurred in early November 2020, marking the start of a major four-month bull run, which saw prices rise above 1,000% in four months.
Let’s see if history repeats itself.
Read more: Sharp 7% Drop sends Doge to 22-cent support with a ton of selloffs
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
