There, beneath the flickering light of global finance, stood Raoul Pal—not, as one expected, clutching a glass of sherry in some crumbling Oxford common room, but instead traipsing about the digital zoo that is Crypto Twitter. His latest pronouncement? That beloved mongrel, Dogecoin (DOGE), could very well leap the fence and bite Bitcoin’s (BTC) ankles on its way to new highs—yes, really.
One is offered a chart by Pal, as if it were an ancestral heirloom or an extremely suspect map. This arcane scribble depicts a “long-term falling wedge”—a phrase so bullish that one expects it to begin mooing at any moment. Pal, with a cosmopolitan twinkle, implies fortunes might again tumble from the heavens, like champagne bottles upon Oxford lawns.
Let us reminisce (for ten seconds, if you please): Dogecoin, languishing like a forgotten deck chair through 2014 to 2021. Suddenly, 2021! Up it shot, propelled mostly by Tweets, memes, and an utter disregard for economic sense.
Pal, ever the optimist—or cynic?—suggests the grand farce may return for another act. There it is: a fresh, stately “descending channel.” Imagine, once again, Dogecoin limbering up for a mad dash while the world looks on with tepid confusion.
One might notice another curious geometric confection on the chart: the “bull flag.” Picture the spectacular 2021 rally now, immortalized as the flagpole. Should Dogecoin hop over the proper boundary—voilà!—a new flag, a new rally, more millionaires, and yet another round of existential questioning for serious investors. There is even talk of surging up to 0.000017 BTC—arbitrary, surely, but far too precise not to be repeated by those seeking hope.
Of course, in true postmodern style, Pal muses that Dogecoin ascending to “the hardest currency on earth” would be a joke of Olympian quality—so farcical, so exquisitely dumb, that perhaps it is exactly what the gods intend. One imagines the ghost of Evelyn Waugh cackling from his chaise lounge: at least it’s not the British pound.
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2025-05-11 12:50