Dogecoin Enters Gaussian Channel After Major Crash, Why the 100% Surge Is Coming Soon

Recent price action over the past two days has seen Dogecoin breaking below the support levels at both $0.4 and $0.3 consecutively to eventually reverse after quickly dropping below $0.27 in the past 24 hours. Since then, the meme coin seems to be accelerating, with a little-known but significant indicator pointing to at least a 100% increase from this point. According to the technical analysis by cryptocurrency analyst Trader Tardigrade, the recent decline has sent Dogecoin into the Gaussian Channel. The Importance of the Gaussian Channel for Dogecoin Price The Gaussian Channel is a little-known technical indicator. However, it is a powerful indicator that determines price support and resistance areas by drawing two curves derived from a normal distribution to identify areas where the price of a cryptocurrency is trading at extreme highs or lows compared to its recent range. In the case of Dogecoin, technical price analysis based on daily candlestick timeframe shows that this meme coin is currently interacting with the Gaussian Channel. According to the chart shared on the social media platform X by the cryptocurrency analyst Trader Tardigrade, Dogecoin has been trading on the Gaussian Channel since mid-October on a daily timeframe. Interestingly, when examining the price chart in detail, we can see that the middle band of the Gaussian Channel acts as a support level during a minor correction. At this point, Dogecoin is trading around $0.1 before finally surging to the middle band to reach a peak of around $0.48 on December 3rd. However, since then, Dogecoin has faced resistance, with a significant decrease in the past 24 hours. This decline has now brought the price of Dogecoin back to the middle range of the Gaussian Channel. With this, Tardigrade's post on X shows that the support nature of the Gaussian Channel may act as a catalyst for the next price increase of Dogecoin.

Momentum Picks Up After Recent Collapse The sharp drop of Dogecoin below $0.27 to a low of $0.2663 marked a significant change in market sentiment and buyers seem to have captured the low price as a strong re-entry point. Interestingly, this price is within the Gaussian Channel, further demonstrating the usefulness of this indicator. At the time of writing, Dogecoin is trading at $0.34, up 27% in the past few hours after surging to $0.2663. The quick recovery indicates market participants positioning for another price increase, with the Gaussian Channel acting as the main indicator for this price action. If the uptrend continues, a breakthrough above the upper boundary of the channel could signal the start of another strong price surge. According to Trader Tardigrade's prediction, this could bring Dogecoin up by 100% to $0.69. In this case, an important level to watch would be $0.355, which is the upper boundary of the Gaussian Channel. DYOR! #Write2Win #Write&Earn $DOGE {spot}(DOGEUSDT)