Dogecoin Price vs. M2 Global Money Supply Signals $1 Breakout
Recent analyses emphasize a potential bullish momentum for Dogecoin linked to the M2 Global Money Supply trends. Key points include:
- Correlation between Dogecoin price and M2 liquidity suggests a trajectory toward $1, an approximate surge of 289% from its current price around $0.25.
- Historical patterns show Dogecoin's price peaks coincide with global liquidity expansions, benefiting from increased money supply.
- Technical analysis by EtherNasyonal indicates a "Cup and Handle" formation, suggesting a significant market cap increase potentially reaching hundreds of billions.
- Dogecoin has surpassed previous resistance levels, now acting as new support, indicating strong breakout potential.
- If the market cap reaches projected levels, Dogecoin could align with top altcoins like Ethereum and Solana.
The analyses provide a unique perspective on Dogecoin's potential for a substantial rally if historical liquidity patterns continue.