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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-shows-potential-for-a-price-surge-with-upcoming-technical-indicator/" data-wpel-link="internal">Dogecoin Shows Potential for a Price Surge with Upcoming Technical Indicator</a><br></p>
<p style="text-align: justify">Dogecoin (DOGE), indisputably at the peak of meme coins by <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> value, might be hinting at a potential upward trend with the possibility of a “golden cross” formation according to technical indicators.</p> 
<h2 style="text-align: justify" id="doge-price-outlook">DOGE Price Outlook</h2> 
<p style="text-align: justify">This formation had triggered a significant <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> movement in the early months of 2021. As of today, DOGE is priced at $0.1444, having experienced a sharp 4.70% drop recently. However, since the beginning of the year (YTD), it has seen a noticeable growth of 60.32%. <a href="https://en.coin-turk.com/sec-expected-to-officially-approve-bitcoin-etfs-within-hours/" data-wpel-link="internal">Bitcoin</a> (BTC), which has increased by 43.5% since the start of the year, significantly trails behind it.</p> 
<p style="text-align: justify">Dogecoin’s spot price continues to reflect a rise with its 50-week simple moving average (SMA) and may soon surpass the 200-week SMA, potentially forming a “golden cross”.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-350401" src="https://coin-turk.com/wp-content/uploads/2024/05/doge-gorunum-coin-turk-com.png" alt="" width="872" height="530"></p> 
<p style="text-align: justify">This price formation at the beginning of 2021 preceded a historic price rally where Dogecoin experienced an approximate 8,000% increase, reaching an all-time high of $0.73.</p> 
<p style="text-align: justify">The process leading to this upcoming golden cross drew attention in March when Dogecoin surpassed its 200-week SMA, showcasing a dramatic 70% price increase within just a week, potentially marking the first golden cross in three years.</p> 
<h2 style="text-align: justify" id="current-state-of-doge">Current State of DOGE</h2> 
<p style="text-align: justify">Contrary to the positive macroeconomic outlook seen in 2021, current conditions do not appear very promising. Questions about <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">interest rates</a> in the USA and geopolitical events continue to create uncertainty.</p> 
<p style="text-align: justify">Despite the market challenges, World Of Charts, a well-known cryptocurrency analyst, indicates that Dogecoin is gradually approaching a critical descending trend line and could potentially experience a breakout that might culminate in a 100% increase in price, reaching a target of $0.29.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-350400" src="https://coin-turk.com/wp-content/uploads/2024/05/doge-2-coin-turk-com-1.png" alt="" width="859" height="446"></p> 
<p style="text-align: justify">While all this is happening, eyes are also turned to DOGE’s price. At the time of writing, DOGE’s price was trading at $0.1445 after a 1% increase. During this period, DOGE’s market cap was at the $20 billion level.</p> 
<p>On the other hand, looking at what happened in the 24-hour trading volume was also important to understand investor behavior. After a 37% decrease, the 24-hour trading volume fell to $674 million, reflecting a significant drop in interest.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/dogecoin-shows-potential-for-a-price-surge-with-upcoming-technical-indicator/" data-wpel-link="internal">Dogecoin Shows Potential for a Price Surge with Upcoming Technical Indicator</a></h5>

Dogecoin Shows Potential for a Price Surge with Upcoming Technical Indicator

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