NewsBTC

18 April 2025

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Dogecoin Charts Show Similarities to 2020 Bullish Patterns

The weekly chart for Dogecoin shows similarities to the pre-2020/2021 rally. Analyst @cantonmeow highlighted a composite of Dogecoin's price action, Global M2 Liquidity Index, and WaveTrend/Weighted Trend Oscillator (WTO), indicating potential bullish signals.

• Current Dogecoin price is $0.154, down 68% from its peak of $0.484 in December 2024.
• Price action suggests a rounding formation, similar to indicators from late 2020 before a price surge.
• The Global M2 Liquidity Index has resumed climbing after a three-year stagnation, indicating increased liquidity.
• The WTO is showing signs of recovery, with the fast line moving above the signal line, suggesting reduced negative momentum.
• Key arguments: price consolidation, increasing global liquidity, and shifting internal momentum.
• Previous convergence of these signals led to Dogecoin outperforming major digital assets over six months.

At press time, DOGE traded at $0.155.