Dogecoin is preparing for a breakout and the DOGE price will soar to US$6.
Crypto analyst Kevin, formerly known as OG Yomi, has identified a promising bullish pattern on the Dogecoin (DOGE) chart, indicating an imminent breakout.
His prediction comes amidst significant accumulation of DOGE by whales, which could facilitate the anticipated breakout.
Dogecoin indicator shows breakout signal
In a Bitcoinist report, Kevin noted that Dogecoin’s 2-month Bollinger Band indicator is showing signs of an imminent breakout. This is the first signal for the meme coin since November 2020.
Kevin also noted that DOGE is set to experience its first 2-month MACD bullish crossover since the same period. This indicator is considered a strong predictor of an upward price movement, adding weight to the bullish outlook.
Kevin expressed strong confidence in the situation, suggesting that it is inevitable. Another prominent crypto analyst, Kaleo, echoed these sentiments.
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