Doge is waxing stronger daily amid the recent explosion of meme coins, which have been gaining a lot of attention lately. Breaking higher this week, it tapped a new multi-month high with an impressive surge in the past 24 hours.
So far, Doge’s performance has been stunning this month as the price flipped through several key levels to reach a new milestone last week.
Unfortunately, it lost steam due to a rejection. This led to a pause in buying and the price corrected for a week. The bulls regrouped in mid-week and pushed back. This push triggered a notable surge, and the price broke higher today.
A further surge in the volatility could fuel a bigger price movement in the next few days, although the price is overstretched and the same time looks due for a correction. We may initiate a drop soon.
Such a correction could cause the market to setback before locating support for a rebound. That should provide a sizeable discount for buyers looking for mid-term gains. But, from the looks of things, the price may rally higher before initiating a correction.
While the price has increased by roughly 250% in the past month, it has shown no signs of stopping yet as the bulls continue to gain dominance.
DOGE’s Key Level To Watch
Source: Tradingview
The buyers are currently eyeing the $0.5 level while facing a rejection. If they continue to mount pressure above this key level, the next line of interest would be the $0.6 and $0.7 levels respectively.
In case of correction, the immediate level for support is $0.35, followed by the $0.298 level. If those levels fail to produce a bounce, the next key level to keep in mind lies at $0.229
Key Resistance Levels: $0.48, $0.6, $0.7
Key Support Levels: $0.35, $0.298, $0.229
- Spot Price: $0.427
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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