The
Dogecoin
price
slump

might
be
over
very
soon,
according
to
a
little-known
but
important
indicator
called
the
Gaussian
Channel
(GC).
As
recently
noted
by
a
crypto
analyst
known
pseudonymously
as
Trader
Tardigrade,
the
Gaussian
Channel
recently
flashed
green
on
the
DOGE
weekly
chart,
suggesting
the
crypto
could
surge
to
the
upside
for
the
next
wave.

DOGE’s
Gaussian
Channel
Flashes
Bullish
Green

The
Gaussian
Channel
is
a
comparatively
less
well-known
technical
indicator
among
crypto
experts,
in
contrast
to

other
famous
technical
indicators

such
as
moving
averages,
RSI,
and
MACD.
The
Gaussian
Channel
plots
two
curves
derived
from
normal
distribution
to
identify
areas
where
the
price
is
trading
at
extreme
highs
or
lows
relative
to
its
recent
range.
Interestingly,
the
price
of
DOGE
has
been
known
to
react
positively
whenever
it
reaches
the
green
zone
of
this
lesser-known
but
powerful
tool.

 

Related
Reading

According
to
a
DOGE
weekly
chart
shared
on
social
media
platform
X
by
analyst
Trader
Tardigrade,
recent
price
action
has
seen
the
cryptocurrency
hitting
the
green
zone
of
the
Gaussian
Channel.
This
is
a
very
bullish
development
that
could
signal
a
major
move
higher
is
imminent. “When
the
time
is
up,
#Dogecoin
will
surge
incredibly,”
the
analyst
said.

A
more
in-depth
examination
of
the
chart
reveals
two
earlier
instances
in
which
Trader
Tardigrade
identified
similar
patterns
for
Dogecoin
and
the
Gaussian
Channel.
The
first
time
the
Gaussian
Channel
turned
green
was
in
2016,
allowing
DOGE
to
go
on
a
multi-year
journey,
which
saw
it
setting
multiple
all-time
highs
in
2018.
A
similar
pattern
occurred
in
2021
and
2022,
which
saw
DOGE
surging
astronomically
to
peak
at
its
current
all-time
high.

How
High
Can
It
Drive
Dogecoin
Price?

Of
course,
no
one
can
predict
exact
price
targets.
However,
if
history
is
to
repeat
itself,
DOGE
is
expected
to
exhibit
bullish
action
for
the
next
few
years.
According
to
the
analyst,
a
potential
surge
could
see
DOGE
break
past
its
current
all-time
high
into
new
price
territory.
His
most
optimistic
outlook
has
Dogecoin
breaking
past
its
$0.73
this
year
and

entering
$1
by
2025.
Trader
Tardigrade
noted
a
final
price
target
well
above
$6.5,
representing
an
increase
of
over
5,100%
from
the
current
price
level. 

 

Related
Reading

Considering
the
current
DOGE
price
action,
this
ultra-bullish
price
target

might
seem
unrealistic

to
some
of
the
best
meme
coin
enthusiasts.
At
the
time
of
writing,
DOGE
is
trading
at
$0.1235
and
is
down
by
9.44%
in
the
past
seven
days
amidst
a
broader
market
decline.
There
are
many
price
resistance
levels
to
overcome
before
investors
can
be
confident
of
a
DOGE
rally.

According
to
data
from
IntoTheBlock,
DOGE
whales
have
been

reducing
their
holdings

in
the
past
year.
This
selloff
has
seen
their
collective
holdings
drop
from
45.3%
from
a
year
ago
to
about
31%
today. 

Featured
image
created
with
Dall.E,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson

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