Bull Claim For Dogecoin From Analyst

According to Veteran Analyst Peter Brandt, the bull has started for Dogecoin (DOGE), which has outstripped Cardano.

Dogecoin (DOGE), which has the largest market value among the joke-themed cryptocurrencies, has risen one step among the most valuable cryptocurrencies by showing an upward performance of close to 100% in the last 7-day period.

DOGE, which has risen with the acquisition of Twitter by Elon Musk, has reached the 8th place among the most valuable cryptocurrencies, surpassing Cardano (ADA). Famous analyst Peter Brandt, who shared about this situation, suggested that DOGE entered a new bull cycle.

Brandt shared a graphic and made the following statements:

“This is a ‘bear channel’. The bear market for DOGE that started in May 2021 is now over.”

In the chart shared by Brandt, it seems that DOGE, which has seen an increase in its volume recently, broke the “falling channel” with a voluminous and hard candle with its rise. Many analysts say that trend changes should be voluminous this way. For this reason, the voluminous breakout can change the falling trend of DOGE.

DOGE’s market value, which reached 90 billion dollars in May last year, is around 16 billion dollars in the current bear market. The cryptocurrency, which is traded 84% below its highest level (ATH), has experienced an increase of close to 100% in the last 7-day period.

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