Dogecoin records +45% growth in past 10 days, set for another moonshot – Dogecoin (DOGE), the famous meme coin that stormed the crypto world in the early days of the year is now barking once again. This time DOGE positions itself along with bulls which triggers global attention. As a result, traders and investors are now closely monitoring the meme token.
Based on the graph above, DOGE has suffered a continuous price drop since May this year. Specifically, the crypto experienced a price decline of almost -80% from May to July. Truly, this downtrend performance of DOGE pains its holders and investors around the world.
However, in the past days, DOGE is seen to gain an uptrend momentum. In other words, DOGE was able to leave the bearish market behind and surge its price above the Fibonacci level 0.78. At the time of writing, DOGE trades a decent amount of $.20 with a growth rate of +45.93% in the past 11 days.
If this bullish trend keeps on, the price of DOGE might be able to break the Fibonacci levels of 0.68 to 0.236. If it does, DOGE may regain its throne once again and head towards the bullish price of $.30 to $.40. But, of course, this will all be possible if DOGE continues to attract new investors into its platform.
On the other hand, the moving average convergence/divergence (MACD) remains above the signal indicator. In short, traders can still expect more bullish days ahead of the crypto. But, if the MACD starts to point towards the signal indicator, it will be a different story.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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