$DOGE Dogecoin (DOGE), the world's largest meme cryptocurrency by market cap, is moving towards a "golden cross" technical pattern that heralds the volatile environment seen in early 2021.

DOGE, which has a market value of approximately $22 billion, according to CoinDesk data, has recorded a price increase of over 70% this year, surpassing the approximately 50% increase of the largest cryptocurrency, Bitcoin (BTC).

The 50-week simple moving average (SMA) of the Meme token's spot price is currently heading north and looks set to confirm the golden cross by moving above the 200-week SMA in the coming weeks. In other words, the token's short-term price momentum may soon outperform the long-term momentum and potentially develop into a long-term uptrend.