Dogecoin Price Hasn’t Begun Its 3rd Wave Yet, ATH Above $0.8 Still In The Cards

The recent Dogecoin market action has seen its price now hovering below $0.20 after surging to $0.208 in the past 24 ￰0￱ the consolidation, analysts and traders are watching the meme coin closely, believing that the next major move could redefine its long-term ￰1￱ those voices is crypto analyst EtherNasyonaL, who predicted that Dogecoin’s third and most powerful bullish phase is still ￰2￱ technical analysis on the monthly chart presents a structure that reveals the groundwork for another massive uptrend to above $0.8 is already in motion. Dogecoin’s First Two Bull Waves Set The Stage The monthly candlestick price chart shared by EtherNasyonaL calls attention to Dogecoin’s cyclical nature since 2014, showing two completed bull waves and a third one ￰3￱ of these bullish waves was formed after Dogecoin broke above and then retested the upper trendline of a descending channel of lower highs that had confined its price action in the preceding ￰4￱ retest was also highlighted by a confluence of the 25 Moving Average (MA) ￰5￱ Reading: Pundit Says XRP Price Risks Crash Below $1, Here’s Why The first wave, which began in 2017, caused Dogecoin’s earliest exponential rise from near-zero levels, right when the meme coin entered into popular crypto ￰6￱ second, and far more explosive, bull wave occurred between 2020 and 2021, when Dogecoin surged from under $0.003 to an all-time high of $0.7316, which has stood until ￰7￱ bull run started once Dogecoin reclaimed its 25-month moving average as support, following extended consolidation periods that spanned multiple ￰8￱ current setup reflects the same condition, as the 25MA line has once again turned upward, and Dogecoin has successfully retested the upper trendline of its previous descending channel, as shown in the chart ￰9￱ 1M price chart.