The meme coin initially rose in the past 24 hours, but Dogecoin (DOGE) has already broken through the $0.15 mark. Data shows that there may be more gains in May. According to CoinMarketCap, the meme is expected to rise far more than the 2.3% increase last week.
Specifically, Dogecoin is showing a gorgeous triangle pattern on its chart. This price action signals a possible continued rise. Traders are looking for DOGE to eventually break above $0.30, which would be its highest level so far in 2021.
After Dogecoin (DOGE) price broke above $0.15, there could still be more upside ahead.
2024 is a critical year for the digital asset industry, with meme coins increasing in popularity significantly. Despite the recognition of many new competitors in the market, Dogecoin remains firmly in the lead. Recently, Dogecoin has risen above $0.15, and this breakthrough may be accompanied by further growth trends.
Specifically, a symmetrical crypto pattern formed on financial charts, which made traders optimistic about cryptocurrencies. Symmetric crypto patterns are usually formed before an asset price breakout or decline.
Currently, Dogecoin (DOGE) is above the 50-day moving average, showing a clear bullish trend. However, this level remains challenging. The $0.15 resistance level is key to determining whether DOGE can continue to rise.
There is a lot of interest in the future trend of DOGE, and there are two main expectations. On the one hand, some believe that it may continue its bullish trend and reach $0.20 with more upward momentum.
On the other hand, if it falls, $0.1427 will become an important support level. After that, DOGE may find additional support at $0.13 and $0.12. Overall, the trading volume has increased by 9%, further enhancing the market's optimism. However, whether it rises or falls, DOGE has room to play.
