CandleFocus Dogecoin (DOGE) rallies more than 10% in the past 24 hours—here’s why
2024-10-16
Author: Content Editor
Dogecoin (DOGE), the most popular memecoin, has surged over 10% in the last 24 hours, signaling a recovery in the memecoin market. The price of DOGE reached $0.127, its highest point since late September, and has gained 44% from its recent low. Trading volume has also increased by 95% to $1.8 billion, and market capitalization is now over $18 billion. Analysts believe this upward trend can continue, with DOGE breaking a descending trendline, flipping important support levels, and showing a bullish signal according to the MACD indicator. Open interest and rising perpetual futures funding rate also indicate growing demand and sustained optimism. Further price gains are expected if DOGE can overcome key resistance levels.
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