The launch of Bitcoin ETF has flipped the bearish market into a greener one. The BTC price reclaimed its levels above $61,000 and ETH price smashed new ATH at $4400 just a few moments ago. However, no matter what the Bitcoin & Ethereum trend is, ShibaInu Coin trends towards the north. And more interestingly, the Dogecoin price is also following the trend with more than 20% jump in the past 7 days.
The asset since the May crash trended within a very narrow range. And despite a couple of failed attempts to break the resistance, the DOGE price remained bullish. However, the price can still go much higher, as the pattern suggests a massive leg upcoming. The popular meme token once breaks the pattern can rally as high as $0.5 within no time.
With the notable pumps and dumps, the asset managed to be stable above $0.2 for a pretty long time. And hence in the weekly time frame, it forms a gigantic ‘w-shaped’ pattern with the neckline somewhere above $0.33. The asset, however, did attempt to breach through these levels but eventually failed to sustain and dropped below $0.3.
No matter the Dogecoin price ATH is little distinct from the current levels, yet could undergo a massive upward trajectory. However, the current weekly close is very much important to estimate the upcoming price movement. A bullish breakout above $0.4 may validate the uptrend and if the DOGE price smashes $0.5 levels bull run may resume.