The Department Of Government Efficiency price has jumped 13% in the last 24 hours to trade at $0.2371 as of 7 a.m. EST on a 41% pump in trading volume to $20 million.
Department Of Government Efficiency Price Signals More Uptrend
The DOGEUSD, on a 4-hour timeframe, shows a strong bullish reversal in progress, and a major support level around $0.16 formed a double-bottom pattern, signaling a classic bullish reversal as buyers consistently defended this price.
Prior to the reversal, DOGE was trading within a descending bearish channel, which indicated sustained downward pressure. However, a breakout above the channel, accompanied by increasing momentum, has shifted market sentiment toward bullishness.
DOGE indicates a parabolic curve, a structure often associated with accelerating buying momentum.
DOGEUSD Analysis Source: Dextools.io
The price has also decisively broken above the 50-day moving average (SMA) at $0.1593 and the 200-day MA at $0.1692, both of which now act as key support levels. The potential for a golden cross, where the 50-day MA crosses above the 200-day MA, could further reinforce bullish momentum. Currently, DOGE is trading at $0.2370, signaling sustained upward strength.
Department Of Government Efficiency Price Indicators Signal Bullish Momentum
Momentum indicators further confirm the bullish sentiment as the MACD shows the MACD line above the signal line, reflecting positive momentum, although the histogram suggests a slight weakening that could indicate short-term consolidation.
Meanwhile, the Relative Strength Index (RSI) is at 60.13, pointing to bullish momentum while still below overbought levels (above 70), leaving room for further price appreciation.
The immediate resistance lies around $0.25, a psychological level that could pose a short-term barrier. If DOGE breaks above this level, the next target is $0.30, where prior consolidation occurred.
On the downside, if the price fails to sustain above $0.20, it could revisit the 200-day MA at $0.1692 or the major support at $0.16. Maintaining momentum above key support levels will be critical for continued upside.
Meme Index Presale Nears $2 Million – Best Crypto To Buy Now?
The rising momentum behind the Department Of Government Efficiency price is also seen in the presale of Meme Index (MEMEX), the world’s first decentralized meme coin index.
MEMEX has taken a fresh approach to meme coin investing by offering diversified meme coin baskets, and investors have already socked over $1.9 million into its presale.
Crypto analyst ClayBro, with over 135K YouTube subscribers, predicts that MEMEX could see 26X growth after launch.
MEMEX offers four different meme coin baskets to invest in: Meme Titan, Meme Moonshot, Meme Midcap, and Meme Frenzy.
Each has a different degree of risk associated with it. For instance, Meme Frenzy presents an opportunity for those who thrive on high-risk, high-reward investments in new and unpredictable meme coins.
🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.
Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX
— Best Wallet (@BestWalletHQ) December 27, 2024
Holders of the MEMEX token also have the opportunity to enter the presale staking pool, which yields an incredibly high annual return of 1,215%.
Currently, one MEMEX token is priced at $0.0149831 and can be bought with USDT, ETH, or a bank card.
Buy before a price hike in less than 2 days to secure the best deal.
Visit MEMEX here.
Related Articles
ai16Z Soars 50% But Traders Rush To Buy This ICO With Time Running Out
Most Trending Cryptocurrencies on Base Chain Now
Is Best Wallet the Best Place to Buy New Meme Coins in 2025?
