In recent weeks, Dogecoin (DOGE) has seen a significant surge in its value, rising by more than 84% in the past week alone, taking it above the $0.23 barrier for the first time since 2021. This surge comes after a long period of stability, and is attributed to increased interest in trading and increased investor activity, especially after trading volume surged to its highest levels since October 2022 $DOGE
#Forecast suggests that DOGE could continue its upward trend with the possibility of reaching the $0.30 level, and if this momentum is maintained, it could test higher resistance levels of $0.35 and possibly $0.40. However, there are signs of a possible short-term correction as the Relative Strength Index (RSI) is reaching overbought levels, which could lead to a slight pullback before resuming the upside.
In addition, the effects of Elon Musk's support continue to boost market sentiment towards Dogecoin, especially with the increasing possibility of integrating cryptocurrencies into his X platform (formerly Twitter), which adds more optimism about the future of the currency.