BINANCE:DOGEUSD.P   DOGE Perpetual Futures Contract
  • Dogecoin price appears to be closely following Shiba Inu price action, hinting at an explosive breakout.
  • DOGE has been coiling up for more than five months, just as Shiba Inu price did before its actual breakout.

  • Unlike SHIB the original meme coin seems to be traversing an ascending triangle, indicating that a retest of an all-time high is possible.

    Reasons why this is possible?

    • Fractals everywhere: Dogecoin price is repeating a massive fractal that it displays before an explosive breakout. This setup, however, suggests an uber bullish double-digit target of $40 per DOGE.
    • 'Tis meme coin season: Many meme coins have surged 17,000% and more in just a few days, suggesting that the meme coin season is upon us. Many of these are dog-coins whose market cap has reached several million despite not having any utilities.
    • Capital rotation: One of the biggest reasons why Dogecoin price will explode and catch investors off guard is capital rotation. While it is tough to time capital rotation, catching it just before it happens will be extremely profitable. When the newer-coin market gets saturated, capital from these cryptos will rotate into the original meme coin aka Dogecoin, causing massive volatile moves.

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