Dogecoin (DOGE) Price Poised to Skyrocket 100% as Momentum Builds Following the Recent Crash

Recent price action in the past two days saw the Dogecoin price breaking below supports at both $0.4 and $0.3 in quick succession to eventually

Technical analysis by crypto analyst Trader Tardigrade has revealed that Dogecoin's recent decline has brought it within the Gaussian Channel, an indicator that identifies areas of price support and resistance.

According to Tardigrave's analysis, Dogecoin has been trading above the Gaussian Channel on the daily timeframe since mid-October. Notably, the mid-band of the channel provided support during a minor correction in October, when Dogecoin was trading around $0.1. This price point also aligns with the beginning of a一波强劲反弹 that saw Dogecoin reach a peak of $0.48 on December 3.

However, Dogecoin has since faced resistance, leading to a significant drop in the past 24 hours. This decline has brought the meme coin back to the midband of the Gaussian Channel once again.

In light of this, Tardigrave's post on X suggests that the supportive nature of the Gaussian Channel could propel Dogecoin's next rally.

The cryptocurrency experienced a dramatic decline below $0.27 to reach a low of $0.2663, marking a significant shift in market sentiment. Buyers appear to have utilized this low price point as a strong reentry strategy.

Interestingly, this price point also aligns with the Gaussian Channel, further highlighting the utility of this indicator.

At the time of writing, Dogecoin is trading at $0.34, up by 27% in the past few hours after bouncing off of $0.2663. This rapid rebound suggests that market participants are anticipating another rally, with the Gaussian Channel serving as a key indicator in this price action.

If the momentum continues to sustain itself, a breakout above the channel's upper boundary could signal the beginning of another strong rally. According to Trader Tardigrade's prediction, this could propel Dogecoin on a 100% rally to $0.69.

In this scenario, an important level to watch will be $0.355, which marks the upper boundary of the Gaussian Channel.