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**Why You Should Expect a Strong Bullish Move from the Dogecoin Price After its 46% Crash**
Dogecoin (DOGE) has recently crashed by a whopping 46%, but according to top analyst Maelius, this downturn could be a blessing in disguise for long-term investors. The crypto expert believes that DOGE’s recent bounce off the buy zone on its price chart signals the start of a powerful bullish move.
In his analysis, Maelius highlights that Dogecoin has consistently bounced back after each significant crash, indicating that each downward move is actually an opportunity for new buyers to accumulate at lower prices. This accumulation could ultimately lead to a stronger upward momentum in the near future.
Moreover, Trader Tardigrade’s latest analysis reveals a potentially explosive Bullish Pennant formation on the DOGE 4-hour chart. This pattern, also known as a symmetrical triangle, frequently precedes significant price surges. Given that DOGE is currently consolidating within this structure, it’s likely that we’ll see an explosive move upward once the price breaks out of this pattern.
The market data confirms Maelius’ and Tardigrade’s predictions, with DOGE experiencing a 19.3% surge in just one week. This sudden increase in value could be attributed to the accumulation of new investors seeking to capitalize on what may become a highly profitable trade.
In light of these technical analyses and market movements, it becomes increasingly apparent that Dogecoin is not only due for a significant upward correction but also poised to potentially shatter its previous all-time high.
Source: bitcoinist.com
