Price: $0.39408 2.1401%
Market Cap: 57.89B 1.7528%
Volume (24h): 8.51B 0.4%
Dominance: 1.7528%
Price: $0.39408 2.1401%
Market Cap: 57.89B 1.7528%
Volume (24h): 8.51B 0.4%
Dominance: 1.7528% 1.7528%
  • Price: $0.39408 2.1401%
  • Market Cap: 57.89B 1.7528%
  • Volume (24h): 8.51B 0.4%
  • Dominance: 1.7528% 1.7528%
  • Price: $0.39408 2.1401%
Home > Information news > Dogecoin Gains Momentum, Sets Sights on Reaching $0.15

Dogecoin Gains Momentum, Sets Sights on Reaching $0.15

Release: 2023/12/07 08:02 Reading: 367

Original author:Crypto News Land

Original source:https://coinmarketcap.com/community/articles/6570fceb84e172648db52168

Dogecoin Gains Momentum, Sets Sights on Reaching $0.15

  • Dogecoin aims for $0.15 after a 24% weekly gain, breaking key resistance.
  • Positive crypto market sentiment persists despite Bitcoin’s 75% Fear and Greed Index.
  • DOGE’s bullish shift is marked by a 50-day EMA breakthrough.

Dogecoin (DOGE) stands out, surging by an impressive 24% over the past week. This bullish momentum has catapulted DOGE beyond critical resistance levels, positioning it to target the significant milestone of $0.15.

Despite Bitcoin’s Fear and Greed Index hitting 75% in recent days, indicating a mixed sentiment, the overall outlook within the crypto sphere remains notably upbeat. The current market environment anticipates a potential retracement to crucial support levels.

Amid this broader bullish wave, Dogecoin has displayed notable strength and resilience. Having faced a challenging period during the bear market, with a drastic price drop of over 90%, DOGE struggled to regain bullish traction. However, recent developments have marked a significant shift in its trajectory.

Breaking free from its previous downtrend channel, Dogecoin surged past the pivotal 50-day Exponential Moving Average (EMA). This breakthrough serves as a clear signal of a transition from a bearish to a bullish trend, further solidified by a substantial rise above the key resistance level of $0.095.

The current market analysis suggests a robust posture for DOGE, holding firm above the crucial $0.095 mark. Analysts are eyeing a potential surge that could drive Dogecoin’s price toward the targeted zone of $0.15. This positive outlook is supported by its sustained position above the daily 50% Fibonacci retracement and reinforced by the strong buy volume highlighted by the Moving Average Convergence Divergence (MACD) indicator.

Presently exchanging hands at $0.1019, Dogecoin has recently crossed the psychological threshold of $0.10, showcasing a 15% surge in the last 24 hours. 

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