DOGE Skyrockets 18% as Co-Founder Shares Thoughts on Price Action

Dogecoin Soars, Prompting Creator's Reaction

Dog-themed cryptocurrency Dogecoin has experienced a notable price surge in the past 24 hours.

Billy Markus, the creator known as "Shibetoshi Nakamoto," tweeted a Dogecoin price chart with the caption "yaaasss queeen."

**At the time of writing, Dogecoin was trading at $0.3888,** having reached an intraday high of $0.395 on Saturday. This represents an impressive 18% gain over the past day, continuing an upward trend since December 31.

Dogecoin's upward trajectory since the end of 2024 has been steady. If today closes in the green, Dogecoin will have marked five consecutive days of gains.

The cryptocurrency market's positive start to the year might be related to a historically good performance in the first quarter. Dogecoin's price action reflects this broader trend, with investors looking to capitalize on its potential.

This recent rally has pushed Dogecoin past its 50-day simple moving average (SMA), a key technical level that had capped its price since December 19.

Outlook for Dogecoin Price

Dogecoin's momentum above the daily SMA 50 of $0.38 suggests further upside potential to $0.42. However, sellers may defend at $0.42; a drop below this level could lead to a decline to $0.34.

On the other hand, if Dogecoin crosses $0.42, the next target could be $0.48.

As Dogecoin continues its upward climb, the focus will be on whether it can maintain momentum and break through further resistance levels. The recent breach of the 50-day SMA is encouraging, but sustained gains depend on broader market conditions and investor sentiment.