DOGE Memecoin hits a 42-month high!
Dogecoin prices have risen about 25% weekly, maintaining an upward trend. Additionally, it has surged 153.16% in the last 30 days. This highlights the increasingly positive influence of meme coins in the cryptocurrency space.
Notably, Dogecoin's year-to-date (YTD) return is +305.68%, reaching a 42-month high. With a market capitalization of $53.23 billion, it has firmly established itself as the 7th largest in the market.
Dogecoin Technical Sentiment
The SMA indicator has supported Dogecoin prices on a daily timeframe. This indicates that buying pressure for the largest memecoin in the cryptocurrency market has increased.
The Relative Strength Index (RSI) continues to trade above the overbought range on the Dogecoin price chart. However, due to the average trend line showing bearish convergence, this altcoin suggests mixed price sentiment for this week.
How high can Dogecoin prices soar?
If the bullish momentum continues, Dogecoin may fall to a resistance level of $0.440. Additionally, if the bulls dominate the cryptocurrency market, this could push the altcoin's price up to the monthly cap of $0.50.
On the other hand, if the bears outpace the bulls, Dogecoin may retest its support level of $0.325. Furthermore, if bearish sentiment intensifies, this could lead to a drop to the support level of $0.265.
