In the last day, original meme coins have seen a small increase. Dogecoin has now surpassed $0.15, and data suggests that more gains are likely to be made in May. The meme coin, in fact, is likely to outpace the 2.3% increase it has seen over the past week. CoinMarketCap.
Dogecoin’s chart shows a triangle pattern that is symmetrical. This price movement indicator could also be a precursor for its continuing ascent. The traders are looking for a move to $0.30 or higher, as this would be the highest price since 2021.
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Dogecoin Surge still possible after increased above $0.15
The rise of meme coins is a clear indicator that 2024 will be a significant year for digital assets. In fact, the market saw a number of competitors compete against sector mainstays. One asset is firmly at the top of the list.
Dogecoin It is clear that (DOGE) continues to be a leader in its market. In fact, its ascent above the level of $0.15 has produced some important data which could indicate further gains. Traders are encouraged by the presence a triangle with symmetrical sides.
A triangle symmetrical pattern acts as a consolidating metric and can indicate either an asset’s rise or fall in value. A breakdown of a trendline below indicates the beginning of a bearish trend. In contrast, the breakout from a lower trend line is indicative of a bearish trend.
![Dogecoin placed on a US dollar note](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Could-Dogecoin-DOGE-Pass-XRP-in-2024.jpg)
![Dogecoin placed on a US dollar note](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Could-Dogecoin-DOGE-Pass-XRP-in-2024.jpg)
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Dogecoin, at the moment is above its moving 50-day average. It is also showing signs of a bullish trend. The current value of Dogecoin is a question mark. This $0.15 resistance is significant for DOGE and will determine its future ascent.
It is crucial to see where DOGE will go from here, because it has created dichotomized expectation. On one hand, it is believed that the DOGE price could rise to $0.20, and then continue to gain.
As an alternative, the net amount of support would be $0.1427 in case there is a decrease. The asset will receive further support between $0.12 and $0.13. Overall, the increase of 9% in trading volume has increased expectations. There is room to see how it will play out.
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Source: watcher.guru