Dogecoin (DOGE), the pioneering memecoin, has attracted attention and showed a significant upward movement in its price. CoinMarketCap data pegged DOGE at 0.2052 as the highest point of this surge. In just one month, DOGE gained about 97% to prove its resilience and push for more increases in prices that are moving downwards, while within a week alone, DOGE is up 22% percent.
After reaching its recent high, DOGE dropped back to 0.13 but managed to hold onto this level before bouncing back upwards again. As of now, Dogecoin’s price is equal to $0.153303, with a trading volume of $6.14 billion and a market capitalization of $21.98 billion. However, during the past 24 hours, DOGE experienced a decrease of 9.27% in its value.
Dogecoin (DOGE) Predicted to Reach $0.25
Despite recent price fluctuations, DOGE stands resilient and primed for substantial growth. Cryptocurrency analyst Rekt Capital noted that this week, DOGE retested the “Macro Downtrend” level as a support area, which showed resilience by rejecting lower prices.
By successfully retesting this downtrend, prices have stabilized and paved way for a new upward move in DOGE. Penetrating the Macro Downtrend, then establishing it as a support level, demonstrates strong underpinnings for continued upward momentum.
Additionally, another cryptocurrency analyst suggests that Dogecoin needs to reach one particular level if it is ever going to complete its 5th wave pattern. Closing above $0.18 will serve as that crucial point. This level is pivotal as it signifies the completion of the anticipated wave 5 pattern.
When Dogecoin rises above this point, it will mark an important turning point for bulls, such that an analyst predicts a higher rise of $0.25 ahead, which will conclude the next upward run toward the bullish territory. This expected pump indicates immense possibilities for growth in Dogecoin’s value driven by market forces and investor perception.
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