The graycal active manager has become the third to file an FNB of Dogecoin, aroused bullish feeling in the Doge community. This development has also increased the possibility that the price of Dogecoin will be achieved at $ 1 early enough.
The Graycale Dogecoine FNB depositing sparoms of optimism of the Doge rally at $ 1
Graycale de Graycale’s ETF ranking has aroused the optimism of a DOGE rally at $ 1. The New York Stock Exchange has already filed form 19B-4 with the American SEC to register and exchange actions from Doge Trust de Grayscale. Grayscale seeks to convert trust into an ETF, which will make it exchangeable on the nyse.
This Dadecoin ETF deposit, which is the third following that of the Rex and Bit actions, still triggered the optimism that DOGE could indeed reach the psychological level of $ 1. A potential ETF of Dogecoin is optimistic because it would cause institutional entries in the DOGE ecosystem, arousing other rallies for the first piece of memes.
These fundamentals could serve as a catalyst for price forecasts made by crypto analysts as a tradigrade trader, which predicted that Doge could rally over the brand at $ 1. In a post X, the crypto analyst noted that the Dogecoin price is preparing for a massive rally. His accompanying graphic has shown that the most important piece of memes could pass the brand of $ 1 and reach $ 3.8 when this rally occurs.
The news around the Dogecoin FNB could trigger a bullish reversal for the Dogecoin price, this overthrow being already imminent. In another post X, Tardigrade revealed that MacD Golden Cross of Doge was approaching. With the ascending triangle model and consecutive upper stockings, the analyst has also noticed that the meme part could potentially reverse the downward trend in an upward trend.
The upward trend of Doge could start in February
In a recent post, crypto analyst, Master Kenobi, suggested that the upward trend of Dogecoin could start in February. This came as the analyst alluded to Doge’s performance last year. He noted that February 4 marked the first signs of an upward trend. With the month of February again, Maître Kenobi raised the possibility that history is repeated.
However, it should be mentioned that February is not exactly a historically bullish month for Dogecoin. Since its launch in 2013, the first same corner has only recorded an average monthly gain of 0.81% in February. However, as these analysts have suggested, there is always the possibility of a DOGE rebound this month, reproducing the 50% gain recorded in February of last year.
Before this rebound in Dogecoin price, the Dogecoin whales have been actively accumulated. Crypto analyst Ali Martinez revealed that these whales accumulated 560 million Doge in last week, which reports a renewed interest in major holders.
At the time of writing this document, the Dogecoin price is negotiated at around $ 0.32, down almost 1% in the last 24 hours, according to CoinmarketCap data.
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