Dogecoin Price Prediction as Altcoins Recover Alongside Bitcoin: Is DOGE Leading the Pack?
The Dogecoin price has gained by 10% in the past 24 hours, rising to $0.072201 on a day when the wider crypto market has risen by only 1%.
DOGE is now 23% better off than it was a week ago, while the meme coin is also up by 25% in a fortnight.
Yet with the token only 2.5% up since the beginning of the year, it certainly has plenty of ground left to recover.
This means more rallies could be coming in the near future, with the distant possibility of Twitter payments something which be massively beneficial for the coin.
Given that the Dogecoin price has risen so strongly, it’s no surprise to see its indicators looking very strong today.
Its relative strength index (purple) has just hit 80, a sign which not only indicates massive buying pressure, but which also suggests a rally could be close to peaking.
That said, DOGE’s 30-day average (yellow) has only just begun rising towards its 200-day (blue) and will need some time before it catches up with it.
This implies that the Dogecoin price could rise a little further before traders begin selling it off.
The coin’s support level (green) provides one other positive sign, in that it suggests DOGE has been consolidating its base around higher levels.
These signs all suggest that DOGE could rise to $0.080 in the next one or two weeks, provided that the market-wide rally continues.
It’s likely that positivity does continue, with traders increasingly expecting the SEC to approve a number of Bitcoin ETFs in the coming weeks.
JUST IN: US institutions are embracing the news that a spot #Bitcoin ETF appears imminent – Matrixport research note
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