Dogecoin Divergence Suggests Bullish Future Ahead

A recent analysis of Dogecoin's price has revealed a divergence in trend between the popular meme coin and the broader crypto market. Analyst Moe pointed out that while Bitcoin is up 1% and XRP by 3.6% since the start of the week, DOGE has corrected almost 2%. This trend extends beyond this week alone, as Dogecoin forms a lower high on the daily chart while the crypto market cap excluding the top 10 is on a higher low trend.

According to Namtoshi Dogemoto, this downward-sloping trend from Dogecoin may seem bearish at first glance, but it's actually a bullish relative weakness. The commentator explained that during altseasons, coins that show relative weakness often 'rip the hardest' when capital starts to rotate.

Analysts believe that Dogecoin could perform exceptionally well in the next bull season due to this divergence. With trading volume remaining subdued and derivative interest dwindling, market conditions would need to improve considerably for a rebound to take place. If that happens, Dogecoin might finally break past the $1 mark.