- The TD Sequential indicator hints at a potential bullish reversal for Dogecoin (DOGE).
- The trend comes following the 4/20 events like Bitcoin (BTC) halving and DOGE Day.
- A pump over $0.2 may be looming.
- The Dogecoin community warns about the proliferation of DOGE airdrop scams.
A Buy Sign for Dogecoin
The much-anticipated fourth Bitcoin halving finally hit, bringing along with it a very bullish outlook from industry players and watchers. The same event also signaled an important event within the Dogecoin space as the dog-themed coin celebrated its annual DOGE Day or D-Day festivities.
Following these milestones in the cryptocurrency market was a new pattern emerging on the charts, which painted a positive picture for DOGE in the near future. According to Ali Martinez (@ali_charts on X), the TD Sequentials just flashed a buy signal of DOGE’s 24-hour range during the weekend.
For the benefit of those unfamiliar with the analytical tool, the TD Sequential helps spot the potential end of a trend. It roots out its likely exhaustion, which could indicate a possible reversal in prices. At prevailing market conditions, Dogecoin may finally be on its way to recovering the bullish momentum it lost between the last week of March and the first week of April.
Martinez didn’t provide a price target for his prediction. However, the consensus is eyeing a possible top over the $0.20 territory, which the OG meme coin strayed away from nearly two weeks ago as bears took over.
DOGE Now
As of this writing at 8:00 AM UTC on Monday, Dogecoin is trading in the $0.16 range, displaying more than a 1% loss on the 24-hour frame, a roughly 3% drop on the seven-day period, and a nearly 2% dip across a one-month span.
Zooming out the chart on a one-year frame, however, reveals around a whopping 104% gain for the crypto asset. Within this bracket, DOGE made a major recovery from a $0.05 low to a $0.22 high.
By far, the highest point that the crypto achieved was on May 8, 2021, wherein it peaked at $0.7376. That’s 78% higher than its value now.
Is There a Dogecoin Airdrop?
Amid the celebrations and renewed optimism on Dogecoin were reports proliferating on social media about DOGE airdrops. Unfortunately, these proved to be nothing but fake news circulated by bad actors on the market.
A particular site identified by the DOGE community that has been actively spreading misinformation was dogechain.com. One member named Mishaboar on X claimed that the site has been spoofing dogechain.info for some time now.
The red flags raised by this copycat site and other related platforms have the potential to steal the personal and financial information of hapless victims through a well-orchestrated phishing scheme.