Why Dogecoin (DOGE) May Be Approaching Its “Last Dance”
Dogecoin shows signs of a potential short-term rally, possibly its 'last dance' before a major cycle peak, according to Swissblock analysis.Summary
Dogecoin (DOGE) is showing potential indicators for a short-term rally after five months of decline, according to analysis from Swissblock's institutional research arm, Altcoin Vector. Swissblock's proprietary Impulse index suggests a strong surge could trigger a new price movement. Furthermore, DOGE maintains a high correlation with Bitcoin, whose recent recovery might support this forecast. Henrik Zeberg of Swissblock applied Elliott Wave theory, suggesting DOGE is in Wave 4 and preparing for Wave 5, which he termed the "last dance"—the final rally of a major cycle, potentially leading to a new all-time high. Technically, traders also observe a contracting triangle pattern suggesting an imminent sharp breakout. However, for DOGE, which has a market capitalization over $16 billion, technical signals alone may not suffice; it often requires influence from major news or figures like Elon Musk to drive the necessary crowd capital flows for a significant upward move.
(Source：BeInCrypto)