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Analyst Says Dogecoin Is In Launchpad Phase – Here’s What It Means
- Dogecoin has surged above the $0.2 mark due to renewed bullish sentiment in the market.
- An analyst suggests that Dogecoin has transitioned from the launchpad phase to the explode phase.
- Trader Tardigrade's technical analysis indicates similarities between Dogecoin's current trajectory and past cycles.
- The analyst refers to patterns involving bottoming out, launchpad formation, and subsequent explosive moves.
- The analysis showcases similarities between the current MACD behavior and previous setups before significant price surges.
- Based on historic behavior, Dogecoin could potentially rally significantly in the coming weeks.
- Trader Tardigrade projects a possible price move above $0.7 in the coming months.
- Previous references to Dogecoin's liquidation heatmap highlighted liquidity concentrations above current levels.
- There were significant liquidity clusters around $0.189 and $0.1995, which have now been surpassed as Dogecoin broke above $0.2.
- Market makers often target high-liquidity zones to drive volatility and trading volume.
- At the time of writing, Dogecoin is trading at $0.2016, showing a 5.6% increase in the last 24 hours.
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