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Dogecoin Reaches Support Level Against Bitcoin That Led To The Rally In 2021, Is A Repeat Possible?

  • Meme cryptocurrency Dogecoin is currently trading at an important support level against Bitcoin, a level that previously triggered its historic bull run in 2021.
  • Dogecoin has re-entered its strongest historical support range compared to Bitcoin on the weekly chart, acting as a key accumulation point and potential launchpad for another major rally.
  • If Dogecoin follows its previous bull cycle behavior, the current consolidation phase could propel it to new all-time highs, outperforming Bitcoin with the support of a bullish catalyst and inflows from retail traders.
  • At the time of writing, Dogecoin is trading at $0.162, up by 4.2% in the past 24 hours, while Bitcoin is trading at $87,390, up by 3.8%.

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