With the Dogecoin Army – reaching the $1 mark as a major milestone, the highest it could reach was $0.73 on May 1, 2021, and its price today reflects a 73% decline from there, so reaching the $1 mark would be a significant achievement on its way to reaching the $10 mark; but the question remains, can it reach it? It seems that today’s news was not enough to attract additional investments to the pioneer of meme coins.
On the other hand, if Trump quickly delivers on his promises and provides regulatory clarity for the crypto sector, this could help stimulate price increases for digital assets. Given Dogecoin’s ability to multiply the profits – or losses – of crypto investors many times over, if the market performs strongly in the coming months, this is likely to be reflected in the performance of DOGE.
*Chart of DOGE/USD price movements
From a technical analysis perspective, the presence of the RSI for Dogecoin’s movements at 75 indicates that it is going through an overbought wave that has allowed it to gain value beyond its real value, which could prompt some traders to sell and take profits quickly to lose some of its upward momentum, while the army of DOGE supporters are looking forward to achieving much higher gains.
