Dogecoin （DOGE） experiences a surge in trading volume, reaching $1.09 billion, sparking speculation about a potential bull run.
Points
- Dogecoin’s trading volume hits $1.09 billion.
- Increased investor interest amid broader crypto market downturn.
- Technical analysis suggests a potential bullish rally.
- Key levels to watch for further price movements.
Dogecoin continues to attract significant attention from investors, with its trading volume recently hitting $1.09 billion. This sharp rise reflects growing interest as Dogecoin maintains its playful charm and strong community support.
Dogecoin Trading Volume Surge
This surge comes at a time when the broader crypto market is facing a downturn, with Bitcoin’s recent drop and speculation about potential sales of U.S. government-held cryptocurrencies adding to the uncertainty.
Is a Bull Run Near?
Crypto trader Kevin believes the bullish rally might be nearing, based on the latest Dogecoin/Bitcoin chart. He pointed out a recent bullish signal from the 3-day Moving Average Convergence/Divergence （MACD） indicator, which previously led to a 100% surge for DOGE against BTC within 60 days.
#Dogecoin vs #Bitcoin chart just saw a fresh 3 day MACD cross to the upside. The last time we saw this cross #DOGE pumped 100% against BTC showing a big outperformance in a 60 day span. With a potential Fed pivot coming and BTC dominance getting close to macro target is #Altcoin… pic.twitter.com/f7O6Erpioo
https://twitter.com/Kev_Capital_TA/status/1818320343448113192
What’s Next for Dogecoin?
Looking at the technical analysis, if Dogecoin can maintain the 50-day SMA as support, it might see a bounce back towards higher levels, potentially reaching the 200-day SMA at $0.134. A sustained rally could push the price up to $0.14 and even $0.18.
解説
- Dogecoin’s significant trading volume indicates increased investor interest despite broader market downturns.
- Technical indicators like MACD suggest a potential bullish rally for DOGE.
- Key levels to watch include the 50-day and 200-day SMAs for further price movements.