last chance to buy before the parabolic rise?

The rise is approaching for Dogecoin

The price of Dogecoin plummeted yesterday and it is starting again today. The token recovered last night and jumped from $0.34 to $0.39 this morning… before taking another plunge. However, it would only be a small collision before takeoff.

If we are to believe the analyst Tawfeed, the relapse of DOGE would be symptomatic of the asset which is preparing a rise. After breaking its descending channel, the small orange coin performs the traditional retest of its resistance…unless he manages to keep that of $0.36.

Currently in the middle of a bull flag pattern, the token still needs to evolve a bit to reach its full potential. A few more days and it could finally take off, especially since it would reach the end of its current consolidation period.

Another bullish element: the correlation between Dogecoin and the Bitcoin halving profit cycle shows us that it is back in the profit zone. The last time this happened, in 2021, it began a parabolic surge within the next 10 days.

The SEC catalyst for takeoff?

If DOGE is regaining public interest at the moment, it is thanks to the latest news concerning the government department DOGE but above all because it is closer than ever to having its own ETF. This is indeed one of the many applications for exchange-traded funds that were filed yesterday.

Now that the US SEC has its own dedicated crypto team, the chances of approval are at an all-time high. However, let us note that the regulator first has another priority objective in its sights.

However, if a first DOGE ETF were to be approved in the coming weeks, the event could kick off DOGE’s parabolic rise. According to Ali Martinez, the phenomenon would bring the same coin to $3 then to $15 at its highest peak in the bull market.

The moral of the story: Dogecoin preparation takes precedence over action.