Dogecoin holders are howling for the popular meme cryptocurrency to reach “the moon” and they just might get it. That’s because a parabolic technical signal is back that last appeared prior to a stunning 23,000% rally.
Keep reading to learn more about the signal and what this could mean for DOGE.Dogecoin Tags Parabolic SAR: Another 23,000% Surge Ahead?
During the last crypto bull market, Dogecoin was on of the standout stars, outperforming Bitcoin, Ethereum, and most other altcoins. Driven by meme mania, stimulation checks, and Elon Musk tweets, DOGE made a lot of people a lot of money.
The Parabolic SAR has been triggered |
Can The Parabolic SAR Revive Meme Coin Season Once Again?
The is a technical indicator designed by J. Welles Wilder, Jr. responsible for creating other popular tools like the Relative Strength Index, Average Directional Index, and Average True Range.
The acronym SAR stands for Stop and Reverse, and the tool’s intention is to tell an analyst when a trend has potentially stopped and reversed. In 2020, the signal in Dogecoin indeed was the final point before the downtrend stopped and reversed up to new highs. Now that the signal has been triggered again, what type of move might we be able to expect from the meme coin?This dog is ready to bite tags 1M Parabolic SAR Last signal produced a 23,000% rally — Tony "The Bull" (@tonythebullBTC)