Dogecoin DOGE/USD surged over the weekend, reaching its highest levels since
mid-March.
Exploration of the Surge: After closing Friday at $0.152703, Dogecoin
kicked off Sunday at $0.152775, initiating an upward trajectory. The cryptocurrency has fluctuated between
$0.151934 and $0.168061.
In the past 24 hours, Dogecoin ascended by 10.53% to $0.165642, based on data from Benzinga Pro.
Glimpse into the Future: Dogecoin only began breaking out of a
consolidation phase in late February, notably later than its counterparts. It hit a peak of $0.205439 on March
5, retraced from the highs, and found a support level at $0.123453 on March 20. Since then, it has mustered
some bullish momentum.
The technical outlook indicates potential for further growth, according to crypto
analyst Yomi. “Attempting to breach the neckline of the inverse head and shoulders pattern. Short-term
analysis isn’t my preferred approach, but it certainly adds an element of amusement to the weekend,” Yomi
shared on X, previously known as Twitter.
After reaching a peak of $0.737567 on May 8, 2021, Dogecoin experienced a prolonged
decline and has mostly consolidated below $0.10 since then.
Image courtesy of Benzinga Pro.