Dogecoin price rose 7% in the last 24 hours. Trading hit $3 billion as the market saw high volatility. The meme coin is close to a $50 billion market cap. Both crypto market trends and the DOGE volume surge show strong activity. “The current green cloud ahead further supports this bullish outlook, as it signals a potential continuation of upward momentum,” notes market analyst Tiago Amaral.
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Exploring Dogecoin’s 7% Price Increase Amid Market Volatility And Rising Volume
Bullish Signals from Technical Indicators
The Ichimoku Cloud shows Dogecoin is in a strong position. “The price broke above the red cloud, indicating a shift in momentum, as buyers have gained control, pushing the price higher,” explains Daria Krasnova, technical analyst. The green cloud pattern points to more gains ahead. The Tenkan-sen line crossed above Kijun-sen. The cryptocurrency market volatility helps DOGE move up.
DMI Shows Strengthening Market Momentum
The DMI shows that Dogecoin’s trend is getting stronger. The ADX went up to 21.5 from 11.9. The +DI jumped to 34.6, showing strong buying. The -DI fell to 11.1, meaning less selling. This DOGE volume surge backs up the bull run.
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Price Targets and Support Levels
A Golden Cross may form soon on the EMA lines for Dogecoin. The next key price points are $0.36, $0.387, and $0.415. This means prices could go up 22.7%. Crypto market trends support this upward push.
Market Volume Analysis
Trading hit $3 billion, showing more people are buying and selling. This matches the price break above the cloud. “The green lagging span (Chikou Span) positioned above the price and the cloud signals that the current bullish trend is consistent with prior price movements,” Krasnova adds.
Short-term Price Outlook
Charts show Dogecoin could keep going up if support holds. The cryptocurrency market volatility helps this move. The steady DOGE volume surge backs potential gains, especially if the Golden Cross happens.
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