Benzinga - Cryptocurrency social media personality, Yomi, recently shared his insights on the anticipated Golden Cross of Dogecoin (CRYPTO: DOGE), highlighting the need for a green week to get back on track.
What Happened: On Sunday, Yomi tweeted an update on the pending weekly Golden Cross of DOGE. He noted that despite two consecutive red weeks causing a slight deviation, the cryptocurrency is still several weeks of upward price action away from achieving this bull market milestone. Yomi emphasized the need for a green week to regain momentum.
Update on #Dogecoin pending weekly Golden Cross. We are still multiple weeks of upward price action away from achieving this bull market milestone. 2 red weeks in a row have cause us to deviate slightly also. Need green soon to get back on track! #DOGE #Altcoins pic.twitter.com/QfdFSR24Uc— Yomi (@OG_Yomi) April 15, 2024
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Yomi’s tweet comes in the context of Dogecoin’s recent performance. The cryptocurrency, which gained traction on social media during the 2020 and 2021 bull market, has made a strong comeback in 2024. Despite a significant price drop from its all-time high of nearly $0.75, Dogecoin is up over 77% year-to-date.
Why It Matters: Yomi’s tweet is particularly relevant given the current bullish sentiment surrounding Dogecoin. The cryptocurrency recently overtook Pinterest and DraftKings in market cap, and traders are eagerly anticipating DOGE Day on April 20. This annual event, which celebrates the 18th birthday of Kabosu and the unveiling of the Bronze Dog, is expected to kickstart another meme coin season.
As one trader noted, “the fun doesn’t begin until $0.25,” indicating the high expectations for Dogecoin’s performance in the coming weeks. Yomi’s analysis of the pending Golden Cross provides valuable insight into the potential trajectory of this popular cryptocurrency.
Price Actions: Dogecoin traded 6.75% higher at $0.16 at the time of writing, according to data from Benzinga Pro.
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