Trader Justin Bennett noticed a token that may be in the accumulation stage after a significant increase and will be able to continue its powerful upward movement in the near future.
Trader Justin Bennett noticed signs on the Dogecoin chart that could indicate an imminent rise in altcoin. According to the analyst , the price of the “meme” cryptocurrency may grow by more than 1000%.
On the Dogecoin chart, Bennett noted an ascending triangle pattern that suggests continued growth, The trader identified a similar stage of accumulation in the spring of this year before Dogecoin rose in price by 1200%.
$DOGE doing what it does best.
The last two breakouts triggered gains of 1,000% or more.
The latest round of consolidation has lasted three times longer than the pattern that preceded the April breakout, which was good for 1,200%.
One to watch if $BTC behaves.#DOGE #dogecoin pic.twitter.com/6sSf0xORDa
— Justin Bennett (@JustinBennettFX) October 8, 2021
On October 11, Dogecoin is trading at $ 0.23. Over the past two weeks, altcoin has risen in price by 16%, and its capitalization has increased to $ 31.1 billion, according to CoinGecko. In early May, the cryptocurrency set an all-time high at $ 0.73.
Dogecoin is a prank cryptocurrency that was released in 2014. Its symbol is the Internet meme – Doge.