Recent price movement points to a notable upside momentum for Dogecoin in the upcoming days as the general crypto market gains traction. However, certain indicators show that the dog-themed meme coin’s next upward move might be tied to Bitcoin’s price dynamics.

Will Bitcoin’s Price Action Unlock Dogecoin’s Next Surge?

As Bitcoin continues to be a dominant force in the crypto market, its price trajectory might act as a catalyst for broader market trends. Meanwhile, crypto expert and trader Kevin has pointed out that Dogecoin’s potential for a bullish breakout may heavily depend on Bitcoin’s next key price movement.

Given that DOGE is currently stabilizing close to crucial levels, a strong move by Bitcoin could bolster the meme coin’s upward momentum, leading to a surge. With the market experiencing a notable rise in inflow, DOGE may attract the necessary momentum for a price surge, targeting key resistance levels such as the $0.40 mark.

Delving into Dogecoin’s recent price action, Kevin highlighted that Dogecoin and the macro 0.5 Fibonacci extension are engaged in a fierce battle. While the Fibonacci extension marks a significant resistance, the expert noted that it is the key to revisiting the macro golden pocket.

Meanwhile, Kevin contends DOGE’s success in this situation will be entirely dependent on Bitcoin’s capacity to emerge from its macro golden pocket. The development may kickstart the much-anticipated rally for the meme coin to a new all-time high.

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Author: Godspower Owie