Dogecoin flashes a massive bullish signal set to overcome 20% weekly losses and reach $0.2.

The market is on a roller coaster ride as token prices undergo rapid fluctuations. Dogecoin price maintained a consolidation trend for over 20 months before breaking above $0.1 and hitting intermediate highs above $0.2. Afterwards, the decline became more severe, causing the price to remain in a narrow range around $0.15.

Trader interest in the token waned as the volume remained below 1 billion throughout the consolidation phase. The recent surge has resulted in massive inflows of liquidity, sending trading volumes surging by more than $2.5 trillion. Unfortunately, trading volumes plummeted again, suggesting a significant shift in interest among market participants. Nonetheless, technical experts have issued a massive bullish signal, suggesting that a new move could be coming soon.

The weekly chart indicates that the price has surpassed the long-term consolidation that began after hitting ATH above $0.7. As was the case before the start of the 2021 bull market, prices are expected to maintain a sideways trend for some time. Moreover, the Gaussian channel has turned bullish and the MACD is also showing bullish momentum. Therefore, it is expected that DOGE price will maintain a slight sideways trend for a while and then continue to break out strongly.

Following a similar pattern, DOGE prices could remain largely stagnant or face a slight decline. Additionally, this retracement could lead to long-term growth, with the next ATH expected to be above $2. Overall, the Dogecoin (DOGE) price appears to be under bullish influence, which could suggest that memecoin mania could take the lead and lead a rally in the coming days.