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Dogecoin Leads Cryptos Higher In Weekend Rally: A Look At Memecoin's Technicals

Published 23/03/2024, 16:08
© Reuters. Dogecoin Leads Cryptos Higher In Weekend Rally: A Look At Memecoin's Technicals

Benzinga - by Shanthi Rexaline, Benzinga Editor.

Dogecoin (CRYPTO: DOGE) spiked higher on Saturday, with the meme coin now trading at their highest level since mid-March.

What Happened: Doge, which ended Friday’s session at $0.152703, opened Sunday at $0.152775 and has been on an uptrend since then. The crypto so far traded in a range of $0.151934 and $0.168061.

Over the last 24 hours, Doge surged up 10.53% to $0.165642, according to Benzinga Pro data.

Source: Benzinga Pro

What’s Next: Doge began to break out of a consolidation phase only in late-February, well after many of its peers rebounded. It peaked at $0.205439 on March 5 and has pulled back from the highs and formed a bottom at $0.123453 on March 20. Since then, it has picked up some upward momentum.

The technical trend suggests room for further upside, according to crypto trader Yomi. “Attempting to break neckline of inverse head n shoulders. Short term time frame stuff is not my favorite but hey it gives us some entertainment on a weekend,” he posted on X, formerly Twitter.

Read Next: Elon Musk’s X Secures Payment Licenses In 3 States, DOGE Payments Soon?

Image created using artificial intelligence with Midjourney.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Read the original article on Benzinga

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