Dogecoin (DOGE) is currently trading at $0.2833. In the past 24 hours, the cryptocurrency has increased by 8.99%, a perspective of strong momentum in the market. With this growth, trading volume rose by 28.5% and is currently standing at $5.21 billion. Increasing price and trading volume are indicative of increasing investor interest in DOGE.
Source: CoinMarketCap
In the last week, DOGE has risen by 31.73%, which represents an upward trend. This steady price increase implies a healthy bullish future for the coin. Higher trading volume and consecutive gains in prices indicate that DOGE may increase more in the nearest future. Investor confidence is on the rise, and the market feels positive.
Crypto analyst Man of Bitcoin highlighted that DOGE is now pushing in wave-3 in a bullish period. A successful retest of the trend line would verify the upward movement in case of a pullback in wave-4. All these technical hints indicate that DOGE may grow further, and analysts are monitoring keenly whether there are indications of a correction.
Source: X
Moreover, another analyst, Kamran Asghar, mentioned that DOGE had just emerged out of a symmetrical triangle formation. This breakout indicates that the coin is still going to go upward, and the target price would be $0.45. The breakout has generated excitement, and traders are contemplating the upcoming potential price movements. Asghar’s prediction helps to reinforce the idea that the token will continue gaining in the coming weeks.
Source: X
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According to the CoinGlass data, the trading volume has been increasing by 18.77% to $10.57 billion. Open interest has also increased by 17.61% to $5.55 billion. The significant rise in trading volume, along with Open Interest, indicates a strong demand for tokens. The OI-Weighted Funding Rate is currently at 0.0125%, reflecting a favorable market sentiment.
Source: CoinGlass
DOGE continued to increase in price and volume, indicating a solid bullish movement. Cryptocurrency attracts the attention of analysts and investors at large, and expectations of future growth are high.
With the cryptocurrency markets still unstable, the next few weeks will play a crucial role in the performance of cryptocurrency and whether the good momentum behind the bullish gain will continue. With the increasing interest in the market, the token remains a significant coin to monitor.
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