Dogecoin became one of the most popular cryptocurrencies in the last bull market after going on an impressive rally back in 2020 after forming a descending triangle. Even now, the meme coin continues to enjoy the spoils of that rally, remaining one of the largest cryptocurrencies in the space. The meme coin has now formed a similar descending angle, but the question is, can it replicate the same rally as 2020?
Dogecoin Coin Forms Descending Triangle Similar To 2021
In a Sunday post, crypto analyst @ali_charts on Twitter pointed out that Dogecoin’s chart had formed a similar pattern to one seen before the meme coin rallied in 2021. This pattern referred to as a descending triangle is usually seen right before a cryptocurrency goes on a massive rally.
The chart shared by the analyst shows an eerily similar movement pattern to DOGE’s price movements in the years leading up to 2021. And as this pattern has formed almost perfectly, the analyst expects that there could be a significant r
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