Cryptocurrency analyst Trader Tardigrade is seeing a breakout from a falling wedge on the Dogecoin price chart. In an X post, he stated that a bullish cross has also occurred on the Stochastic Relative Strength Index (RSI) biweekly chart. This analysis came as the leading meme coin tries to break above the $0.2 price level.

Additionally, Trader Tardigrade stated that the current On-Balance Volume (OBV) pattern on the DOGE/BTC chart could soon see the meme coin outperforming Bitcoin once again. According to the analyst, this pattern emerged just before the meme coin massively outperformed the flagship crypto from October to December 2024.

However, DOGE has massively underperformed for most of 2024 but ended the year on a high as it went on to record the most year-to-date (YTD) gain among the top 10 cryptos by market cap.

Trader Tardigrade also stated that another bull run may be imminent for the meme coin. According to the crypto analyst, DOGE has broken down to its Round Bottom in this cycle. Based on this, he asserted that a “massive” bull run is now imminent for the leading meme coin.

Update On The DOGE Macro Chart

In another X post, crypto analyst Master Kenobi provided an update on the macro chart for the meme coin. According to him, the macro chart and a comparison of the current configuration with the situation in 2017 show that the meme coin has all the necessary components for a “massive” pump.

The crypto analyst also stated that the 21-day EMA on the 3-day chart indicates that the current outlook for the meme coin is bullish. He added that additional factors such as bullish divergence and the breaking of the trendline on the Relative Strength Index (RSI) reinforce this bullish outlook. It is worth mentioning that the analyst recently predicted that the leading meme coin could rally to a new all-time high (ATH) by June.

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