Analyst Says Dogecoin Millionaires Will Be Made in the Next 2-3 Months
Crypto Bio highlights bullish divergence on Dogecoin's chart, saying Dogecoin millionaires will emerge in the next 2 to 3 months.Dogecoin (DOGE) has shown signs of a potential trend shift, following a period of sideways trading after peaking at $0.19. Over the past seven days, Dogecoin has risen by 12.0%, aligning with visible bullish sentiment. On a 14-day basis, it remains up by 10.6%, with the current price resting at $0.1816. Meanwhile, an analyst is pointing to key technical developments, including bullish divergence that would make more Dogecoin millionaires in the next 2 to 3 months.Potential Trend ReversalsTwo instances of bullish divergence have been highlighted on Crypto Bios Dogecoin chart, indicating weakening bearish momentum. https://twitter.com/CryptoBio_/status/1916447693519389069The first divergence, spanning from late June to August 2024, saw the price fall into the $0.07 to $0.09 range while the RSI indicator formed higher lows. This suggested a reduction in selling pressure, ultimately preceding a sharp rally into December 2024, where Dogecoin surpassed $0.40.Following this pattern, a second bullish divergence has emerged between March and April 2025 amid the ongoing price turbulence. Again, Dogecoins price created lower lows, bottoming at approximately $0.1300. However, the RSI posted higher lows, replicating the bullish pattern seen months prior. The analyst noted that Dogecoin appeared to be waking up, with a potential target near $0.5. Notably, he predicts that Dogecoin could reach this level in the next two to three months.According to him, such a rally could make more Dogecoin millionaires. However, such investors might need to hold large amounts of the token. For context, if Dogecoin reaches this level, a $10,000 bag would only grow to $27,534, making a profit of $17,534. For a Dogecoin holder to become a millionaire at the $0.5 level, they would need to hold 2 million DOGE. These 2 million tokens are currently worth $360,000.Parabolic Trendline HoldsMeanwhile, in addition to bullish divergences, analyst "abermix" observed that Dogecoin is currently respecting a long-term parabolic trendline. Drawn from a low near $0.05 in the 20222023 range, this ascending curve extends into 2025. Dogecoins price currently sits atop this trendline, maintaining it despite multiple breach attempts at $0.06, around $0.08, and again above $0.14.https://twitter.com/abermixcrypto/status/1916387525909713335Notably, the price remains slightly below both the short- and long-term exponential moving averages (EMAs). However, a minor rally above the $0.20 mark could lift DOGE, potentially confirming a trend reversal. Falling Wedge Breakout Adds to Bullish CaseAdding to the technical backdrop, an analysis from April 25 detailed that Dogecoin broke out of a falling wedge pattern. This formation had contained DOGE within a downtrend for several months, with resistance tested at $0.28 in February and again at $0.16 in April. The breakout near $0.18 was accompanied by increasing trading volume and a reclaim of key support levels, indicating the potential for a shift to an upward trajectory.The analyst noted that the falling wedge pattern traditionally precedes a bullish reversal, and the current price action aligns with this historical behavior. With strong support noted around $0.143 and $0.16, the targeted move points toward the $0.46 level.
Text source: The Crypto Basic
