However, a crypto analyst has noted that this period of prolonged consolidation and negativity occurs before every major expansion phase. He points to a chart, noting that Dogecoin’s price structure still looks dangerous, as he expects the meme coin to stage a potential rally that could catch many investors off guard.
Dogecoin Chart Mirrors Past Expansion Cycles
Cryptollica argues that all of these metrics combined with negative market psychology suggest that Dogecoin could be gearing up for an explosive price rally. He noted that this surge will likely fool many people, just as it did in past trends.
Featured image from Unsplash, chart from TradingView
