Dogecoin’s accumulation cylinder set to go parabolic with $3.5 next
Meme cryptocurrency Dogecoin (DOGE) is showing signs of preparing for its next parabolic rally, with technical indicators suggesting a potential surge that could target $3.50. According to Analysis by TradingShot , this outlook is based on the fact that for nearly a year, Dogecoin has been supported by its monthly 50-day moving average (MA), a critical level that has historically marked the start of its major bull runs. In a September 4 TradingView post, the outlook pointed to a familiar “accumulation cylinder” structure forming once again, a pattern that has consistently signaled the transition from bear cycle bottoms into explosive bull cycle advances. DOGE price analysis chart. Source: TradingView Previous cycles have followed a similar path where, once the MA50 take-off was established, DOGE entered a parabolic rally phase, each time reaching at least the 1.618 Fibonacci extension from its previous all-time high. Based on this repeating setup, the analyst...