One analyst says DOGE could rally 5,000% from its current price, based on a Gaussian channel analysis.
Following a 159% rise between Nov. 6 and Nov. 12, Dogecoin (DOGE) has exhibited a period of higher-range consolidation. On Nov. 18, the largest memecoin completed a daily bullish engulfing candle, which welcomed market speculations for its next ascend near its all-time high of $0.73.
Dogecoin 1-day chart. Source: TradingView
With the market turning its attention toward DOGE again, one particular indicator highlighted its historical probability of undergoing another parabolic rally over the next few weeks.
