The 50-day moving average is $0.22, which indicates the price of DOGE.

Since DOGE prices rose to the $0.4 threshold and began testing this resistance level, it has been preparing for a significant Bull Market Rebound. A Cryptocurrency analyst discussed the importance of the 50-day MA at $0.22 in determining the DOGE price movement in this Bull Market.

The 50-day moving average is a technical indicator that highlights the average price of Cryptocurrency over the past 50 trading days. It is mainly used to identify price trends, determine resistance levels and support levels, and generate buy and sell signals.

X (formerly Twitter) Cryptocurrency analyst Kevin emphasized the importance of this key technical indicator in the recent DOGE price movement and its impact on the future rebound of the DOGE bull market. The analyst revealed that historically, during the previous bull market of DOGE, its price always remained above the 50-day moving average, despite multiple tests of this key threshold, it never fell below it. Usually, staying above the 50-day moving average is considered a bullish indicator, while consistently falling below this average indicates a downward trend.

Kevin displayed a detailed chart of DOGE's PA during the last Bull Market at the end of 2020, revealing that the 50-day moving average for DOGE is $0.22. However, as DOGE closes on the daily candlestick chart, this price threshold is rising rapidly.

In addition, the rapid rise indicates that if DOGE can stay stable near or above the 50-day moving average, its price should show a clear bullish trend continuation, providing a solid foundation for further pumping.

In another post, the famous cryptocurrency market expert Trader Tardigrade announced that Dogecoin has officially entered the distribution phase of the classic triple force (PO3) market cycle. The PO3 cycle is a popular concept in technical analysis used to identify key market phases - accumulation, distribution, and manipulation.

With DOGE currently in a stable distribution phase, large holders may dump assets, potentially locking in profits after a recent price pump in DOGE. Although the distribution phase can be seen as the end of the Bull Market Rebound, characterized by dumping and slow momentum, trader Tardigrade believes that this phase may be relatively calm before a significant price pump.

The analyst shared two price charts comparing the performance of DOGE during the 2016-2017 Bull Market cycle and the future PA in 2024 and 2025. In the 2017 Bull Market, DOGE entered a distribution phase, triggering a significant Bull Market Rebound and breaking through the new level of $0.00066.

If this trend applies to the current distribution stage of Dogecoin, trader Tardigrade predicts that its price may soar from the current $0.4 to $9.5.

(Data source: Scott Matherson)