Erm hi guys,
is it just me or has anyone else noticed that dogecoin has been missing in action during all this meme frenzy, even as ETH and BTC have experienced significant gains in the past months?
When the meme craze started, Dogecoin was at the forefront, making the kind of price moves that many Solana-based memes are achieving now. Could this be because Dogecoin has grown to a $20 billion market cap token? Does this mean its potential upside is limited, or has it reached its peak?
Especially now that Solana memes seem to have taken over, these questions are worth considering. If you’re pondering these thoughts too, gather here, and let’s talk about it.
In times like this, when fundamentals don’t shout out loud, we go on to technicals. What do the charts say? Personally, I’m the worst at TA, but I do have some people i follow that are good at it, here’s one
“For only the second time in history #Dogecoin is about to receive a 2 month MACD cross to the upside. The last time this occurred #DOGE traded at a fraction of a penny and began a massive bull market to .74 cents. How high will we go this time is the question”
This insight is quite intriguing, especially considering the history and potential implications of such a technical signal.
The MACD (Moving Average Convergence Divergence) cross is a significant indicator used by traders to identify changes in the strength, direction, momentum, and duration of a trend in a stock's price. A bullish MACD cross can indicate a strong upward momentum.
Given this context, it’s worth pondering if Dogecoin might be on the verge of another substantial rally.
History doesn’t always repeat itself, but it often rhymes. The previous massive bull market saw Dogecoin go from obscurity to mainstream recognition, driven by a combination of social media hype, celebrity endorsements, and the sheer novelty of a meme-based cryptocurrency.
Now, with the current market dynamics and renewed interest in meme coins, Dogecoin could potentially surprise us again.
The excitement around newer memes on Solana might have overshadowed Dogecoin temporarily, but it’s important to remember the foundational role Dogecoin played in the meme coin ecosystem.
It’s the original meme coin, and its community is one of the most dedicated and passionate in the crypto world.
The question of whether Dogecoin has peaked is a valid one, especially given its substantial market cap. However, market cap alone doesn’t tell the full story.
Sentiment, market conditions, and broader adoption all play crucial roles. Dogecoin has consistently shown resilience and an ability to capture the public's sensation, which is a powerful driver in the world of crypto.
ETH ETF approved now what?
What about the recently approved ETH ETF, will it have any impact on Doge, both technically and fundamentally?
While the talk of the future of Dogecoin is interesting, what about what’s happening in the broader space? The approval of the ETH ETF is a very big deal, we practically watched the effect of institutional investment on the price of Bitcoin,
This could have a ripple effect across various cryptocurrencies, including Dogecoin. The thing about dogecoin is that it is very simple to relate to and has gained a lot of popularity over time so I can say for a fact that doge will be one of the winners if Ethereums price action goes ballistic.
What about talks of Dogecoin ETF? That will be funny won’t it? Someone said the top signal of this cycle will be when shitcoins like Doge or Solana get approval for ETFs and I couldn’t stop laughing, but it might not be funny.
What do you think?