The price of Dogecoin resumed the bullish direction track on Monday, and gained 3.4 % at the time of writing and trading at $ 0.239. The mem -header -head coin increased by more than 40 % in the past week, making it one of the best cryptocurrencies. It was previously rejected at $ 0.260 during the weekend, a barrier that has been violated since early February. However, the current market morale and technical indicators indicate a possible outbreak in the short term.
According to Coinananceyze data, the open interest value of DOGE increased by 8.1 % in the last 24 hours to reach $ 1.4 billion. This indicates a high investor confidence in the potential of the currency, adding support to the price.
It is worth noting that the Meme currencies wore strongly in the wake of news about the penetration of trade negotiations between the United States and China. Dogecoin, including Floki, WIF and BRTT around the percentage growth, recorded growth last week. This traders can see increasingly tending to these laboratories at the Doug account.
However, Dog is still proving work, which gives him his groups regardless of most coins and gives them an advantage, especially among institutional investors. These feelings prefer continuous growth by Dogecoin, thanks to its position as the largest Mimi currency depending on the market value. Moreover, the Dogecoin price recently on the levels of simple moving average for 20 weeks and 50 weeks, confirming a strong hidden hidden occurrence.
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Predicting the price of Dogecoin
The momentum on the price of Dogecoin calls for more bullish direction above the PIVOT mark at $ 0.222. The first obstacle is possible at $ 0.248. However, if buyers extend their control, the momentum may exceed this level and test $ 0.260.
On the other hand, the momentum can turn to the negative side if the price decreases to less than $ 0.222. This is likely to see a pair of Dogeusd finding the first support at $ 0.205. The bullish narration will be invalid if the price procedure is lower than this level. In addition, this landmark can boost and send the price less to test $ 0.184.
