Dogecoin Set for 23,200% Surge? Analysts Identify Rare On-Chain Pattern

• Dogecoin (DOGE) has experienced a rare on-chain pattern, suggesting a potential 23,200 percent surge.
• The pattern in question appears to be a descending triangle developed on the monthly chart of the DOGE/USD pair.
• A monthly close above $0.08 would indicate a possible breakout of the descending triangle pattern, delivering a strong bullish signal for Dogecoin.

Dogecoin (DOGE) On-Chain Pattern

Dogecoin (DOGE), the meme-inspired crypto that started as a parody of Bitcoin and other renowned cryptocurrencies, has been on a roller coaster journey since its creation in 2013. Recently, an on-chain market analyst identified a rare pattern within the Dogecoin network that could lead to an upsurge of over 23,200%.

Descending Triangle Formation

The rare pattern is known as a descending triangle formation – characterized by a horizontal support line and series of lower highs, creating a downward-sloping trendline. Generally speaking, this type of pattern suggests that sellers are gradually gaining control over the market and may lead to price breakouts when breached.

Confirmation Signal

To confirm this bullish indicator further, attention should be paid to when Dogecoin closes above $0.08 at the end of any given calendar month; this would indicate that it has broken out from its descending triangle formation providing strong signals for investors and traders alike.

Community Support

Despite its origins as parody crypto, Dogecoin has managed to garner quite an enthusiastic following due to its iconic Shiba Inu dog breed logo and popularized among social media users with memes and jokes related to it. This strong community support has helped buoy DOGE’s price over time even when other cryptos have been struggling against bearish sentiments in traditional markets like stocks or forex currencies.


With all indicators pointing towards an impending upsurge for Dogecoin backed up by community support – only time will tell if DOGE will indeed lead the next wave of bullish momentum across the cryptocurrency arena in general or not.