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.
1/ Dogecoin price rallied 43% in less than two hours.
2/ This sudden uptick in DOGE comes as the cryptocurrency markets are experiencing a slump.
3/ This development is likely considering that Shiba Inu investors will want to cycle their profits to another meme coin.
There was a head and shoulders formation on day frame and the neck line did got broken but the closing low is still unbroken and the Tl breakout happened..
looks bullish for the time being.
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Isn't life ironic? The currency that everyone hates for some unknown reason is one of the few whose moving average structure has not been significantly disrupted after this period of declines. The previous rise has been so high that this fall represents a smaller percentage with respect to the rise, with respect to the other currencies.
You can also see little...