Dogecoin ($DOGE ) is showing a notable resurgence in the cryptocurrency market. According to data provided by CoinGlass, Dogecoin's trading volume increased by 47.62% in the past 24 hours, reaching $1.32 billion. This sudden increase created optimism among investors.
Currently, $DOGE is trading at $0.1607, down 1.04% over the past 24 hours, but has recorded an increase of 8.47% over the past 30 days, showing that memecoin is on the rise.
According to technical analysis, Dogecoin's Relative Strength Index (RSI) is at 50.94, meaning it is in the buy zone. This level shows that the asset has further upside potential and has not yet entered overbought territory.
Additionally, Dogecoin is trading above the 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA), which is considered a strong indicator of an uptrend.