The biggest meme cryptocurrency on the market, Dogecoin (DOGE), is it preparing for a potential increase in its price soon? A recent analysis revealed that memecoin is looking to reach new heights.
Currently, the DOGE cryptocurrency is showing an upward trend in its price, stabilizing above the $0,15 support level amid positive sentiment in the market.
The cryptocurrency trading expert, known as Kevin on platform
In his analysis, the expert shared a chart of the cryptocurrency, while highlighting that it is currently “consolidating in the gold pocket, while we are above all bull market uptrend averages.”
“If we take a closer look at the Dogecoin vs BTC chart, we are currently consolidating in the gold pocket while we are above all bull market uptrend averages. This is a very good sign if we can maintain it in terms of seeing DOGE outperforming BTC from here on out. Send this dog upstairs already.”
If we take a close look at the the #Dogeco vs #BTC chart we're currently consolidating in the golden pocket while sitting above all bull market up trending MA's. This is a very good sign if we can hold it in terms of seeing #DOGE out performing BTC from here on out. Send this dog… pic.twitter.com/Nvd2LBzETu
— Kevin (@Kev_Capital_TA) April 24, 2024
At the time of publication, the price of Dogecoin (DOGE) was quoted at US$0,1614 with an increase of 1.5% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$1.202.365.393.
It is worth remembering that Dogecoin cryptocurrency trading volume soars last week amid the market recovery. In an important development in the dynamic cryptocurrency universe, the largest memecoin on the market, Dogecoin (DOGE), recorded a significant increase in its trading volume in just 24 hours, as revealed by data released by CoinGlass.
The platform's survey highlighted that the trading volume of the Dogecoin memecoin increased by 25,05%, reaching a total of US$3,68 billion. The recent increase in DOGE trading activity comes as the cryptocurrency community and investors anticipate a potential recovery for Dogecoin.
