Dogecoin (DOGE) seems to be primed to ascend in worth to $0.10 because the meme coin is presently outperforming the broader cryptocurrency market. In accordance to CoinMarketCap information, Dogecoin has surged by over 7.18%, climbing over the broader market that managed a 3.8% improve throughout the identical 24-hour time-frame.
Dogecoin RSI and quantity surge strengthen bullish setup
This optimistic value outlook has set Dogecoin on a bullish path to hit $0.10 if the present momentum continues. DOGE’s Relative Energy Index (RSI) indicators that the meme coin is positioned to soar because the momentum is powerful.
With an RSI of 73.41 and elevated buying and selling quantity that has spiked by 31.44% to $986.99 million inside this era, Dogecoin seems to be set for a bullish transfer. The meme coin might hit the following value and surge into the $0.10 zone.
As of this writing, Dogecoin is exchanging arms at $0.095, which is a 6.5% improve within the final 24 hours. The meme coin beforehand hit an intraday peak of $0.097 amid elevated buying and selling quantity. This indicators that with extra assist, it might flip the $0.10 barrier and stabilize at this new value degree.
Nonetheless, to obtain this stability, buyers want to maintain the shopping for strain. If quantity stays elevated over the weekend, Dogecoin is probably going to flip. Market contributors are monitoring developments, significantly with the excessive RSI, which might slip into overbought territory any second.
It’s price mentioning that the present bullish uptick Dogecoin is experiencing has a correlation to Bitcoin (BTC), the main digital asset. Inside this era, Bitcoin rebounded by 4.9%, amplifying the rising tide of DOGE within the crypto market.
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If Bitcoin continues its uptick and Dogecoin merchants maintain the shopping for momentum, DOGE might rebound and hit between $0.104 and $0.108. It stays unclear how lengthy this bullish outlook might final, given the RSI indicators.
Dogecoin’s market cap dominance over Bitcoin Money restored
Dogecoin’s rebound transfer has canceled fears entertained in some quarters that Bitcoin Money (BCH) could dethrone DOGE. Earlier within the week, BCH posted a bullish efficiency because it decoupled from the main digital asset.
Nonetheless, with this rebound transfer from Dogecoin, its market capitalization has soared to $16.77 billion. It stands over $5.5 billion above Bitcoin Money, which sits in tenth place with $11.19 billion. The event reveals how a value improve could make a distinction in stability for an asset on the crypto market.
In the meantime, Dogecoin’s Bollinger Bands had hinted that DOGE could register a 60% jump if market circumstances align. The present uptick seems set to launch the meme coin to excessive worth.
