Is DOGE Repeating Its Performance from Late 2020? | Video

This chart of the day is powered by crypto.com, a leading crypto platform trusted by over 80 million users worldwide. Let’s take a look at this day’s chart. Hold on to your dogebags, as recent price movements are strikingly similar to those seen in late 2020, when meme tokens rebounded from a bear market and rose over 1000% in early 2021. One of the key tenets of the Dow Theory is that the trend of asset prices is: Self-repeat. Therefore, traders often check whether the ongoing price movements are similar to those in the past to understand what lies ahead for Dogecoin. The world’s biggest meme, the cryptocurrency, recently surpassed the widely tracked week 5100 and week 200. The simple moving average of prices ends a long 20-month hold at the depth of the bear market. The 50-week simple moving average is above the 100-week simple moving average, indicating a bullish shift. Still, past data is no guarantee of future results, especially for non-serious cryptocurrencies like Doge and other meme coins.As of 9:30 a.m. ET, Doge is relatively It was flat at 17 cents. That’s all for today’s chart. I’m Jen Sani. Join us next time to uncover more data behind the top news stories.

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