Recent price movements of Dogecoin (DOGE) against Bitcoin (BTC) signalled an important technical breakthrough and indicate its imminent rise. Analysis suggests that Dogecoin could surpass Bitcoin in current market cycles after successfully breaking free from a Falling Wedge pattern breakout.
Anticipation Builds as Dogecoin Exits Falling Wedge
Crypto analyst Trader Tardigrade recently noted Dogecoin’s move away from its third Falling Wedge pattern against Bitcoin. This technical pattern typically foreshadows price rallies, making Dogecoin an attractive prospect during altcoin season. Each previous occurrence of this pattern indicated significant gains for Dogecoin relative to Bitcoin; potentially signalling significant gains ahead.
The Falling Wedge pattern can be recognized by its narrowing price range within a downtrend, which indicates a gradual takeover by buyers and decreasing selling pressure. Once completed, this pattern sets up Dogecoin to take its predicted leap forward, showing strong bullish momentum.
Dogecoin Poised to Outshine Bitcoin
Analyst Tardigrade suggests that Dogecoin may soon outshone Bitcoin based on analysis conducted using DOGE/BTC’s On-Balance-Volume (OBV) indicator. This metric measures buying pressure relative to selling pressure, and has shown similar dynamics to when Dogecoin first overtook Bitcoin’s performance in 2024.
This pattern, featuring a downturn followed by consolidation and subsequent OBV growth, indicates an accumulation of strength within Dogecoin’s market. Similar dynamics previously lead to an aggressive breakout, signalling an expected rally for DOGE relative to BTC.
