Dogecoin

Coin

The world’s biggest meme coin, Dogecoin, with a market cap exceeding $18 billion, is now attracting significant attention from crypto enthusiasts. Recently, on February 28, 2024, Dogecoin, which had remained relatively quiet for more than 1.5 years, experienced a breakout above a crucial resistance level near the $0.11 mark. Since then, it has witnessed an impressive price surge of over 18%. Why Dogecoin (DOGE) price is increasing? 
It has also been observed that Dogecoin has continuously experienced bullishness in its price in the past few days. Traders and investors expect that, at the current pace, it will hit the $0.16 level in the coming days.
Amid this bullish sentiment, on January 30, 2024, theDogecoin network witnessed a massive surge in daily active addresses, recording a remarkable increase of 1,100%. On January 29 alone, 247K new DOGE addresses were created, a trend that is currently reflecting on the price of DOGE. 
Earlier on February 23, 2024, Todayq News reported that Dogecoin is forming a similar descending triangle pattern as observed in the chart of 2020, preceding a <a href="https://news.todayq.com/dogecoin-hints-bullish-move-heres-how/" rel="noopener noreferrer nofollow">DOGE price</a> surge of more than 28,770%. Traders and investors are expecting a similar move in DOGE following the recent breakout of the descending triangle pattern. Dogecoin technical analysis and key levels 
According to expert technical analysis, Dogecoin, which was experiencing strong resistance near the $0.1 level, has been breached. On a daily time frame, DOGE also shows a candle closing above that level. This daily candle closing above the $0.1 level signals a bullish and positive sign for DOGE in the upcoming days. As per the price action pattern and chart analysis, DOGE has a high chance of hitting the $0.16 level in the upcoming days, which is another major resistance level. Source: TradingView 
Currently, Dogecoin’s DOGE is trading near $0.12, and in the last 24 hours, it has experienced over a 34% upside momentum. Looking at DOGE’s performance over a longer period, in the last 7 days, it experienced over a 50% upside momentum, while in the last 30 days, DOGE’s price experienced over a 60% upside momentum.
In addition to DOGE’s massive price surge, the overall cryptocurrency market is also going through bullish momentum. Top cryptocurrencies like Bitcoin, Ethereum, Solana, and Binance Coin have also experienced significant price surges in the last few days and the last 24 hours.
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Silence ended in Dogecoin after 1.5 years, will DOGE hit $0.16

Todayq News

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