With a jump of ~7% in the past 24 hours, the DOGE meme coin has maintained its bullish sentiment in the cryptocurrency market. Notably, with a trading volume of $4.192 billion, the Dogecoin price is currently exchanging hands at $0.210.
Amid present market sentiments, will the DOGE price achieve a new yearly high over this weekend and head toward its $0.30 mark? Dive in to find out the possible short-term price action of this memecoin.
The memecoin has recorded 5 out of 6 green candles this week. This has resulted in its price surging 30.38% during this period. Moreover, the Dogecoin price has 2xed its long-term investor’s investment within the past 30 days with a jump of 98.28%.
Currently, this memecoin is trading above the $0.21 mark and is potentially heading toward its yearly high of around the resistance level of $0.2290 mark.
The EMA 50/200-day has displayed a significant action in the Dogecoin price chart after recording a Golden Cross. This highlights increased bullish sentiment in the market.
The Moving Average Convergence Divergence (MACD) has constantly displayed a green histogram for about a month with its averages recording aggressive growth in the 1D time frame.
If the memecoin leader maintains its value above the $0.21 mark, this will pave the path for it to retest its resistance trendline of $0.23. If the bullish sentiment intensifies at that point, this could potentially act as a catalyst in the DOGE coin price heading toward its $0.255 mark.
Conversely, if the sentiment turns negative, this could pull the Dogecoin price toward its lower support level of $0.155 this year.
Are you one of many who are eagerly waiting for this meme coin to achieve a new high? But uncertain about its price prospects? Read, our Dogecoin (DOGE) Price Prediction!
With the ongoing trend, the DOGE coin may achieve the $0.25 mark shortly.
This memecoin with a potential surge may go as high as $1 during 2025.
With the fear and greed index stabilizing at 73, Dogecoin is a potential buy today.
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