Key takeaways
- DOGE rallied by 16% final week to hit the $0.23 mark.
- The main memecoin may rally to the $0.30 psychological mark if market momentum stays bullish.
DOGE breaks above $0.20, targets new highs
DOGE, the native coin of the Dogecoin ecosystem and the main memecoin, carried out excellently during the last seven days. The coin added 16% to its worth throughout that interval, surpassing the $0.20 mark within the course of.
At press time, DOGE is buying and selling at $0.2344 and may very well be set to hit the $0.30 mark for the primary time since February 2025. The rally comes because the broader cryptocurrency market recorded glorious beneficial properties over the previous few days.
Bitcoin, the main cryptocurrency by market cap, hit the $122k mark earlier in the present day after including 3% to its worth over the weekend. Ether surged previous $4,300 for the primary time in 4 years and is now focusing on the all-time excessive value of $4,891.
DOGE targets $0.3 amid bullish momentum
The main memecoin may proceed its rally as bullish momentum engulfs the broader market. The DOGE/USD 4-hour chart is bullish and environment friendly, suggesting that merchants may very well be gearing as much as push the worth larger.
The MACD traces have crossed into constructive territory whereas the RSI of 66 exhibits that consumers are at present in charge of the market. If the market momentum persists, the DOGE/USD pair may cross the primary main resistance degree at $0.2865 over the approaching hours or days. An prolonged bullish run would pave the way in which for DOGE to surpass the $0.30 mark for the primary time since February 2025.
Nonetheless, the market may present indicators of exhaustion, leading to a bearish pattern. If that occurs, DOGE may retest the primary main assist degree and its 4H TLQ at $0.2208. Failure to carry this assist degree may see DOGE drop additional in the direction of the Break of Construction (BOS) round $0.2098.