Dogecoin (DOGE) May Be Emulating a Pattern That Has Led to Significant Gains in 2018 and 2021

Amid important announcements like the arrival of Doginals to the EVM (Ethereum Virtual Machine), the US Securities and Exchange Commission's (SEC)

Despite several important announcements this week, including the arrival of Doginals on the EVM, the closure of the SEC's investigation on ETH, and other developments in the crypto community, investors and traders are yet to see any major price actions from Dogecoin.

However, according to one technical indicator, DOGE may be on its way to rewarding those people with diamond hands who continue to HODL the token despite a lot of FUD and bearish sentiments playing in the background.

Potential Reversal of Dogecoin From a Falling Wedge A pseudonymous trader on X believes Dogecoin is currently emulating a pattern that has led to significant gains in 2018 and 2021. From a long-term perspective that studies DOGE's cycles over the years, the trader noted that the token may have already entered its final consolidation phase. Based on the triangle or wedge formed by mapping out the significant highs and lows of the consolidating value, Dogecoin’s breakout could signal a rally that could potentially surpass its current all-time high at $0.73. The analysis didn’t mention a specific price target for the forecast though.

$DOGE comes to the last phase of consolidation, a TRIANGLE consolidation ?

These triangles have been seen in every cycle just before the HUGE Surge.

The chart tells itself