Dogecoin as an indicator of alt sentiment
Dogecoin is an interesting specimen, it only rarely pumps, and that means we can look for patterns surrounding dogecoin pumps.
After looking into dogecoin pumps in detail, I discovered that there was a strong correlation between impressive doge rallies and the general theme of the altcoin market.
I decided to turn what I learned into an indicator, shown above. The green/red area represents the strength of dogecoin's trend and its direction, and the white/blue histogram is the derivative of the green line.
This pattern is obvious on XLM, but you can see it on nearly every alt. Happy trending
After looking into dogecoin pumps in detail, I discovered that there was a strong correlation between impressive doge rallies and the general theme of the altcoin market.
I decided to turn what I learned into an indicator, shown above. The green/red area represents the strength of dogecoin's trend and its direction, and the white/blue histogram is the derivative of the green line.
This pattern is obvious on XLM, but you can see it on nearly every alt. Happy trending
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