Despite its humble origins, Dogecoin ($DOGE) continues to defy expectations and is now on a consistent upward trajectory that has traders overwhelmingly bullish.
$DOGE’s surprise rise has prompted speculation about where price could go next – with many hoping it could return to the highs of April.
Moreover, traders are also speculating about the potential of other meme coins in the market, with Wall Street Memes ($WSM) and Chimpzee ($CHMPZ) being two that are rapidly gaining attention.
Technical Breakout Helps Fuel Excitement for $DOGE
$DOGE is now hovering around the $0.069 level, having been on a consistent uptrend since mid-June.
The $DOGE price has increased by 17% during that time frame, with investors now becoming increasingly optimistic that it could be the beginning of an extended bull run.
Currently, $DOGE is attempting to break through the vital resistance level at $0.070, which has held firm since June 6.
If this level could be broken, there’s a clear path to the upside – a fact that’s fuelling the growing excitement of Dogecoin enthusiasts.
Further adding to the excitement is that $DOGE has just breached the 50-day Exponential Moving Average (EMA) to the upside on the daily time frame.
Traders often view this as a bullish signal, indicating that the medium-term trend is positive.
CoinMarketCap data also reveals that the total $DOGE trading volume is up 48% in the past 24 hours – adding another layer to investor optimism.
This optimism has filtered through to the analyst community. Leading crypto analyst Kaleo, who boasts nearly 600,000 Twitter followers,
Go to Source to See Full Article
Author: BeInCrypto Team
Tip BTC Newswire with CryptocurrencyDonate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
