Doge has surged by 30. 45% over the past month. Market fundamentals suggest investors favorability as analysts eye a major pump
Consequently, the memecoin has formed three higher lows and broke out of major resistance.For context, when DOGE forms a Reversal Box pattern, it signals the end of stagnation and the beginning of a potential upward rally.
When this pattern formed in 2020, Dogecoin saw a strong upswing. For example, during the latter part of 2020, DOGE surged from $0.0023 to $0.00048. Also, the memecoin hiked from $0.006 to $0.088, gaining 1366.67% in the same year.Therefore, if history repeats itself, the memecoin will experience a major pump as it did in 2020.While the analysis provided by the CEO provided a promising outlook for Dogecoin, it is essential to counter-check other market fundamentals.
This suggests that long-term holders are confident with the memecoin’s future value. As such, when the market absorbs selling pressure from short-term holders, it would lead to a price rally.Finally, large holder inflow has experienced a sustained uptrend over the past week. This has surged by 358.64% from a low of 252.92 million to 1.16 billion.
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