Dogecoin Eyes $0.12 Resistance as Market Sentiment Turns Bullish
Comprehensive News and Technical Analysis Brief:
In the last 12 hours, Dogecoin ( DOGE ) has shown signs of strength, currently trading at $0.102 with a 1.9% increase over 24 hours. DOGE’s market cap stands at approximately $14.96 billion , and 24-hour trading volume is just over $540 million ​( CoinGecko )​( BeInCrypto ).
US and International News:
Dogecoin’s price is continuing to benefit from renewed mentions by Elon Musk , whose promotions of the meme token have historically had a positive effect on its value. Musk’s recent remarks on his use of Dogecoin in projects such as Tesla and Twitter have sparked optimism about potential further integrations​( Finbold ). Internationally, Dogecoin is gaining traction as more exchanges and merchants continue to accept it as a form of payment, further boosting its relevance in the cryptocurrency space .
Technical Analysis:
Dogecoin is currently approaching a key resistance level at $0.12 . A bullish double-bottom pattern has formed, signaling that a breakout could be on the horizon if DOGE manages to maintain momentum above $0.10 ​( CoinGape ). Analysts are optimistic that if Dogecoin breaks through the $0.12 barrier, it could quickly push higher toward $0.15 ​( CoinGap ). However, failure to hold above $0.10 may see the price retrace toward support at $0.09 ​( Finbold ).
Read More: https://onthenode.com/cryptocurrency/dogecoin-eyes-0-12-resistance-as-market-sentiment-turns-bullish
Comprehensive News and Technical Analysis Brief:
In the last 12 hours, Dogecoin ( DOGE ) has shown signs of strength, currently trading at $0.102 with a 1.9% increase over 24 hours. DOGE’s market cap stands at approximately $14.96 billion , and 24-hour trading volume is just over $540 million ​( CoinGecko )​( BeInCrypto ).
US and International News:
Dogecoin’s price is continuing to benefit from renewed mentions by Elon Musk , whose promotions of the meme token have historically had a positive effect on its value. Musk’s recent remarks on his use of Dogecoin in projects such as Tesla and Twitter have sparked optimism about potential further integrations​( Finbold ). Internationally, Dogecoin is gaining traction as more exchanges and merchants continue to accept it as a form of payment, further boosting its relevance in the cryptocurrency space .
Technical Analysis:
Dogecoin is currently approaching a key resistance level at $0.12 . A bullish double-bottom pattern has formed, signaling that a breakout could be on the horizon if DOGE manages to maintain momentum above $0.10 ​( CoinGape ). Analysts are optimistic that if Dogecoin breaks through the $0.12 barrier, it could quickly push higher toward $0.15 ​( CoinGap ). However, failure to hold above $0.10 may see the price retrace toward support at $0.09 ​( Finbold ).
Read More: https://onthenode.com/cryptocurrency/dogecoin-eyes-0-12-resistance-as-market-sentiment-turns-bullish
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