Dogecoin (DOGE) is creating waves in the crypto market as it maintains its stellar upward momentum. The current price surge is gaining major headlines, with robust buying activity driving its momentum. With its popular coin receiving increasing attention, all eyes are on its next move. With hopes building, it is obvious that DOGE’s bull run is leaving the market in awe like never before.
At the time of writing, DOGE is trading at $0.1742 with a 24-hour trading volume of $546.18M and a market cap of $26.03B. The DOGE price decreased by 2.33% in the last 24 hours.
Dogecoin Awakens: Bullish Signals Suggest Breakout Ahead
Dogecoin (DOGE) spent the last few months relatively quiet, but indicators are surfacing that the formerly meme-based crypto may be set for a comeback. The “slumbering giant” could be about to awaken from its extended consolidation, according to traders and analysts. The technical signals in the last few days have revealed that the momentum in Dogecoin is slowly starting to change, with the community in an excited buzz. Is Dogecoin set for another moonshot?
A close inspection of the chart of DOGE indicates an obvious pattern of upward movement. With the relative strength index (RSI) depicted with a bullish divergence, combined with expanded volume, it is obvious that something is about to change. The price may have rested quietly for some time, but these signals tell us that momentum in favor of Dogecoin is in the process of building. For traders, that could translate as an impending breakout. Experts are watching key support and resistance levels for the next significant move.
Technical outlook indicates bullish phase for Dogecoin
Technical indicators also confirm that the crypto is displaying resilience. Dogecoin did manage to rebound from its long-term trend line support, which is considered an indication of bullish continuation. The MACD indicator is also beginning to change, heading green as momentum turns in favor of the bulls. The key resistance zones of note are $0.155 as well as $0.168, with room for further growth should these areas be breached. The chart of Dogecoin is beginning to present an intriguing narrative for traders in search of their next opportunity.
The hype for Dogecoin is building fast, with speculation rampant that it will soon go above current peaks and even target $0.20. With everything in its favor fundamentally, who knows if $DOGE will hit $0.19290 or even higher? One thing is for sure, though – the moonshot opportunity for Dogecoin is alive and kicking. Keep an eye on those all-critical breakout points, and don’t miss what can be the next great chapter in the book of Dogecoin.
