Crypto analyst Kriss Pax forecasts a significant price surge for Dogecoin (CRYPTO:DOGE), citing bullish on-chain metrics.
Pax suggests that the current market decline may be the last downturn before a broader crypto market recovery.
He points to the upcoming Spot Ethereum (CRYPTO:ETH) ETFs as a potential catalyst for DOGE's bounce and highlights the bullish signal from the Relative Strength Index (RSI).
Additionally, Pax notes rising altcoin dominance and a bullish MACD cross, indicating a potential altcoin season.
Dogecoin's market value to realized value (MVRV) suggests it is currently undervalued.
Recent data shows a significant surge in Dogecoin’s trading volume, further supporting the bullish outlook.