Dogecoin is on a path of remarkable growth following the renewed market upswing due to the United States Presidential election results, surpassing several strong resistance levels and crucial bullish patterns along the way that could further push the dog-themed meme coin into pivotal price areas.

Dogecoin Upward Momentum Fueled By A Textbook Golden Cross

Speculations about Dogecoin’s price performance in the short term have grown strongly among investors and traders. However, Kevin, a market expert and enthusiast has shed light on the meme coin’s near-term price prospects after the completion of a key chart formation.

Following an investigation of DOGE’s recent price action, the crypto analyst highlighted that the asset has completed the Textbook Golden Cross pattern on the weekly time frame, a positive technical indicator that often suggests a potential persistent upward momentum. 

Furthermore, the development is being supported by the 50-day Simple Moving Average (SMA) crossing above the 200-day SMA, indicating that higher prices are probably imminent. This development reflects the robustness and resiliency of Dogecoin‘s recent price strength amidst increasing demand and supportive macroeconomic conditions, triggering investors’ confidence.

As Dogecoin continues to approach key levels, market players are paying close attention to its next move with the belief that the mem

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Author: Godspower Owie