Dogecoin (CRYPTO: DOGE) corrected sharply this week, but the dog-themed cryptocurrency could gain upsides in the days to come, according to a popular trader’s analysis on Thursday.
What happened: Trader Tardigrade, noted for recognizing patterns and forecasting the next moves for cryptocurrencies, predicted “upside momentum” for DOGE as the meme coin broke out from a descending trendline.
Typically, a break above the descending trend line indicates that buyer demand has increased and the bearish trend could end. Notably, DOGE lost over 6% in a week.
In a separate post, the influential trader spotted a falling wedge pattern on the weekly Dogecoin vs. Bitcoin (CRYPTO: BTC) dominance chart.
The …
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