Can Dogecoin surpass $1? DOGE MVRV reaches a new high in 4 years

Dogecoin's MVRV ratio reaches its highest level in four years, signaling strong trading activity. The sudden increase in MVRV aligns with the upward trend in the cryptocurrency market, repeating patterns seen before significant price increases in Dogecoin. MVRV increased sharply before stabilizing, showing further growth potential of memecoin DOGE. As the largest memecoin approaches the "half-life" correction phase, according to historical analysis, this currency has signaled a "buy" signal, recommending buying to predict that the price will continue to rise.

If Dogecoin breaks the all-time high, it could predict a "sell" phase based on market psychology. These actions suggest that reaching the $1 milestone is possible if the current trend continues, supported by fundamental psychology and trading volume. This scenario, although speculative, aligns with the patterns seen where the MVRV ratio reached its peak, leading to significant price fluctuations. DOGE Reflects the Last Cycle Model Once again, the price of Dogecoin has experienced a significant retreat of 45% from its recent peak, just below its all-time high. This pattern closely reflects previous cycles, indicating strong growth prospects. This consolidation at a lower level, reflected by a significant decrease of 45.83% at the price of $0.22201, indicates the possibility of an accumulation phase before a larger price increase. Historical trends show that such consolidation often occurs before strong price increases, creating a solid foundation for investor optimism.

With DOGE currently at a crucial point, the chart shows readiness to surpass previous highs. If this pattern remains consistent with past behaviors, Dogecoin could truly aim for the $1 mark in the upcoming cycle. Predictions about this price hike are supported by the structured phases of growth and retreat that Dogecoin has gone through, indicating a recovery cycle and appropriate growth momentum that could push the price to new record levels. Gaussian Channel and Psychology About Dogecoin Price When analyzing Dogecoin using the Gaussian Channel indicator, it can be seen that the price is expected to increase, highlighted by the GREEN shift on the 4-hour chart around mid-December, predicting the possibility of a significant price increase. This chart spans from November to January, reflecting a similar setup leading to a significant price increase, indicating a repetition of past price increases. The price of Dogecoin, reacting to this price increase signal, has surged from around $0.092 in early November to a peak exceeding $0.58 in mid-February.

This movement indicates that activating the Gaussian BLUE channel could significantly push DOGE's price up to $1, especially if market conditions and investor sentiment remain similar. This trend often attracts more buying activity, potentially pushing prices to new highs. With the psychology of smart investors at +0.45 indicating the prospect of price increase, and the slightly pessimistic crowd psychology at -0.11, the journey towards the $1 level of DOGE has shown conflicting signals. #Write2Earn # While professional investors are optimistic, public skepticism persists. This split indicates volatility but tends towards potential price increases if the influence of smart money drives market trends. If smart money continues to support DOGE's upward trend, the $1 mark could become a reality, especially if public sentiment changes to align with the confidence of institutions. DYOR! Write&Earn $DOGE {spot}(DOGEUSDT)