Buy Dogecoin: Technical analysis suggests rally.

Dogecoin, the cryptocurrency known as a meme coin, has gained around 6% in the past week, drawing attention to itself. Existing technical analyses suggest that this digital currency is poised for a significant upward move.

According to TradingView data, historical technical patterns of this currency indicate substantial upward movements. From 2014 to 2017, this currency experienced a bearish and accumulation phase, then entered a bullish phase from 2017 to 2018. Subsequently, from 2018 to 2019, it went through another bearish period. Since 2020, Dogecoin has been in a new accumulation phase.

The primary support range is between $0.07 and $0.08, and the Fibonacci resistance level of 0.236 is around $0.20. If Dogecoin breaks out of the current accumulation phase, a favorable buying opportunity will emerge. Investors should closely monitor these levels to seize entry points for maximum profit.

These analyses suggest that now might be an appropriate time to buy Dogecoin, but it is always recommended that investors conduct their own analyses and consider the existing risks before making any financial decisions.