Will Dogecoin Rise Soon? Bullish Signals for DOGE Have Reappeared

The largest memecoin, Dogecoin (DOGE), has seen significant gains in recent days, although it is still far from the ATH of 2021. An unprecedented formation has appeared in DOGE, increasing by 20 percent in the past 7 days. Market analyst Omkar Godbole stated in his analysis that a golden cross has formed in DOGE, signaling a significant price increase in the near future. What is Golden Cross? This situation, known as 'Golden Cross' and in Turkish as altın kesişim, is considered a bullish signal in all markets. A golden cross often occurs when the 50-day moving average (MA 50) crosses above the 200-day moving average (MA 200). This crossover indicates that short-term momentum is currently outperforming the long-term trend and has the potential to develop into a strong bullish rally. What Can We Expect From the Price of DOGE? Although the Golden Cross is often seen as a positive indicator for prices in the market, its history is quite complex. However, analysts note that many of the significant fluctuations of Dogecoin in the past occurred after the Golden Cross appeared. Referring to the year 2024, the analyst noted that the price of Dogecoin increased by over 130% in the four weeks following the appearance of the golden cross on November 6, 2024. In reference to 2023, the analyst also pointed out that a similar situation occurred in November 2023, with the price rising by 25% in about a month after the golden cross. Finally, the analyst noted that a similar golden crossover occurred in early November 2020, marking the beginning of a strong bullish trend that lasted four months, witnessing a price increase of over 1,000% in four months. DOGE, which has risen 7.6% in the past 24 hours, continues to trade at $0.243 at the time of writing.