Ethereum
Dogecoin (DOGE) just beat Ethereum, Shiba Inu and others in 24 hours: details
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Dogecoin regained a large amount of power and successfully moved towards the $0.17 price level, now showing the strongest performance in the market, even beating Ethereum and Shiba Inu. Over the past 24 hours, DOGE’s impressive rally has attracted the attention of many investors, making it one of the best-performing cryptocurrencies on the market. walk.
Some of the reasons for the recent surge in Dogecoin are new retail interests and new purchasing volumes. This consequently increases buying activity on the asset, creating high volatility in the price of DOGE.
Dogecoin/USDT chart by TradingView
Dogecoin has now broken above the 50 EMA for the first time, indicating an uptrend. The relative strength indicator also indicates the current wave on the bullish side, so further gains are expected in the short term. Additionally, the increase in volume reflects strong buying pressure.
On the other hand, Ethereum and Shiba Inu did not do as well. Ethereum has been quite stable gaining a bit, while Shiba Inu has struggled trying to break out of its current price range. This was especially interesting as Dogecoin continued to outperform even these two big digital coins.
Another factor fueling the surge Dogecoin This is positivity across the entire crypto market. As Bitcoin and other major cryptocurrencies show signs of recovery, investors seem more willing to take risks on alternative coins like DOGE, and this restored confidence has really driven its price higher.
There will be room to move closer to key resistance levels if current momentum persists and the bulls remain on Dogecoin’s side. In one way or another, any type of meme coin is volatile, not excluding Dogecoin. Stay cautious and try to avoid over-indebtedness and poor risk management.
About the Author
Arman Shirinian
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant utility in the future. Currently, it focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.