DOGE hits three-year maximum. But will the bullish trend endure?
Leading meme coin Dogecoin (DOGE) has experienced a remarkable price surge in the past few days. It currently trades at $0.28, recording an 88% price uptick in the past seven days.
This significant uptrend has propelled DOGE ahead of Ripple’s XRP in terms of market capitalization. With strengthening buying pressure, the meme coin is poised to extend its gains.
The Super Trend indicator tracks the overall direction and strength of an asset’s price trend. It shows a green line during uptrends and red during downtrends.
Sustained demand for the meme coin could soon push it past this crucial barrier. A successful breakthrough here would pave the way for a Dogecoin price jump to $0.39 — a high last seen in June 2021.
However, if profit-taking increases, Dogecoin could lose some of its recent gains and potentially drop to $0.19. Failure to establish support at this level may lead to a deeper decline, with DOGE falling toward $0.09.
