Meme cryptocurrencies can soon be heated as their leader, Dogecoin
He has formed a gold cross, hinting at a large increase in prices ahead.
A golden cross occurs when the single mobile average of 50 days (SMA) The price of an asset moves above the 200 -day SMA. The crossover indicates that the short -term impulse is now overcoming the longest trajectory, with the potential to evolve towards an important bull race.
Dogecoin’s averages crossed the scope of today. Although the Golden cross is considered a positive indicator, it has a mixed record of predicting trends in most markets, including shares, Bitcoin and Doge. That makes it unreliable as an independent indicator.
That said, most of Doge’s great movements developed with the appearance of the golden cross. For example, prices increased more than 130% to 46 cents in four weeks after the occurrence of the Golden Cross on November 6, 2024. Prices increased 25% in four weeks after the averages crossed on November 22, 2023.
Similarly, a gold cross occurred in early November 2020, marking the start of a large four -month bull race that saw that prices recovered more than 1,000% in four months.
Let’s see if the story is repeated.
Read more: The drop of acute 7% sends dux towards the 22 cents support in the high volume sale
