While all of the coins were experiencing a small blip, Dogecoin [DOGE] was the only one recording massive gains. As Bitcoin [BTC] slumped to $60K, all altcoins followed suit as they were noted depleting. At the time of writing, the overall market cap was $2.22.
Dogecoin once again turned heads with its latest three-digit price change. The altcoin, which started as a joke, has seen a 127.65% surge in price in the last 24 hours. DOGE was trading at a high of $0.299 at the time of writing. The asset was retracing from a recent all-time high of $0.325. Furthermore, the asset seemed to have had a pretty beneficial week as it recorded a rise of 307.69% in the last seven days.
Additionally, the market cap of the altcoin sprung to $31.76 billion further pushing DOGE to the top ten. Currently, the altcoin sits as the eighth largest cryptocurrency above other prominent coins like Litecoin [LTC], Uniswap [UNI], and Chainlink [LINK].
Dogecoin [DOGE] One-Day Price Chart On Binance
The one-day price chart of DOGE suggested that the ongoing trend in the existing market would continue. The altcoin had affirmed that the bulls were residing in its market. The Parabolic SAR indicator formed a strong line of support below the candlesticks further depleting chances of any possible downward slide. The Awesome Oscillator indicator did not want to disturb the coin’s upward trajectory. The indicator laid out strong green lines further suggesting that this trend could persist.
The disparity between the MACD and the signal line revealed that the altcoin could take a while the change its prevailing trend. Currently, the MACD indicator had undergone a bullish crossover.
Dogecoin Encounters A Buyers’ Market
Strong buyers’ market was complimenting the existing bullish trend in the DOGE market. The Relative Strength Index along with the Money Flow Index indicator was noted in the overbought zone.