Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
One key principle of the Dow Theory is that asset price trends are self-repeating, functioning along Mark Twain's famous quote:"History never repeats itself, but often rhymes." Hence, traders often check if the ongoing price action resembles anything from the past to understand what lies ahead.
Both developments are strikingly similar to those in late 2020. The so-called fractal is noteworthy because DOGE witnessed an explosive rally in the first five months of 2021. Doge spent 20 months in the depths of the bear market, between 5 and 15 cents, before breaking higher from the range late last month.
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