The Weekend Rally of Dogecoin
Dogecoin DOGE/USD showed a remarkable surge on Saturday, with the meme coin hitting its highest level since mid-March.
Analyzing the Movement: Dogecoin, which closed Friday’s session at $0.152703, started Sunday at $0.152775 and has maintained an upward trajectory ever since. The cryptocurrency has traded in a range between $0.151934 and $0.168061.
In the past 24 hours, Dogecoin surged by 10.53% to reach $0.165642, as reported by Benzinga Pro data.
Source: Benzinga Pro
Evaluating Dogecoin’s Future
What Lies Ahead: Dogecoin only started to emerge from a consolidation phase towards the end of February, well after its counterparts had rebounded. It hit a peak of $0.205439 on March 5 and retraced from those highs, establishing a bottom at $0.123453 on March 20. Subsequently, it has gathered momentum on the upside.
Based on technical analysis, there seems to be considerable potential for further upward movement, as outlined by crypto trader Yomi. “Attempting to break neckline of inverse head n shoulders. Short term time frame stuff is not my favorite but hey it gives us some entertainment on a weekend,” he shared.
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Image created using artificial intelligence with Midjourney.
