Dogecoin: Right Time to Buy Before the Next Explosive Breakout?

On the heels of Meme Stocks Mania that literally lasted less than a week, and with so much in the news this week, I figured it was time to revisit this meme coin.On December 19, 2013, Dogecoin jumped nearly 300% in value in 72 hours. Three days later, it crashed by 80%.

While the momentum shows clearing the 200-DMA after a mean reversion, the 50-DMA has not cleared since early April. While there is some resistance at .1731, it is possible to see dogecoin trade back up to .22 where it was in March 2024.Should we get a golden cross, it would be the first in over 3 years. In early January 2021, that golden cross resulted in a four-month rally with prices surging over 8,000% to $.76 cents.

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