Altcoins

Dogecoin Price Thrives With A Spectacular Surge! $1 Looks Inevitable

Highlights

    Dogecoin price rose high and entered the top 10 cryptocurrency ranking list in less than 24 hours

    The surge without any mentions from the referred CEO Elon musk points out towards a huge investment from companies

DOGE Price in Discovery Mode!

Dogecoin price rallied more than 80% to achieve the milestone at $0.13 in the early trading hours. Melting the faces of many who looked DOGE as just a meme coin, incompatible to hit 10 cents, the price maintains a continuous uptrend.

With the Coinbase IPO listing on Nasdaq on the cards, it is anticipated that Wall Street may have initiated accumulation. According to an analyst RESEARCH 24/7, Kronos Technologies acquired nearly $60 million worth DOGE. 

This may be one of the major reasons for the DOGE price spike as the company accepts payments in DOGE since February 2021. Moreover the speculations of Coinbase listing dogecoin has also hit the crypto space. Therefore the extreme positive market sentiments has landed the asset into the price discovery mode smashing ATH.

DOGE Price Analysis

Doge price initiated its bull run at $0.07 and gained nearly 100% percent jump to hit $0.14 in less than 24 hours of trade. With the selling pressure being almost null, the digital asset rallied high forming a new ATH at $0.1425 and yet continue to surge.

doge gain

The indicators are showcasing a continued bull run in coming days that may rally the price to $0.5 initially. The RSI indicators is trending within the overbought region since the beginning of the bull run recording above 90. The MACD after giving a buy signal is diverted apart from the signal line and hence the sell signal may not be close.

doge indicator

At the time of writing, the dogecoin price is $0.1359 with a surge of 85.63% in the last 24 hours.

Technical Specifications

  • The Resistance level of dogecoin price cannot be determined as the price is trending within the discovery mode.
  • The support levels are too far at $0.07
  • The indicators for DOGE price points out at a strong buy signal

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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