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Dogecoin: Golden Cross Appears for the First Time in Many Years – $1 May Just Be the Beginning
Omkar Godbole, a market analyst, shared the prediction that the price of Dogecoin will soar in the coming weeks after a strong buy signal appeared on the daily chart. Godbole emphasized that a rare event called 'Golden Cross', which is the crossover of the 50-day and 200-day exponential moving averages, occurred when DOGE recorded a 23.5% increase over the past 30 days.
The last time this buy signal appeared, the top meme coin surged 300%, from $0.15 to $0.45 in just 45 days. Therefore, DOGE may be about to explode at a time when market conditions are extremely favorable. As of the time of writing, Bitcoin (BTC) has just reached a new all-time high of $124,457, while Ethereum (ETH) is only 3.9% below its historical peak of $4,891. Additionally, Solana (SOL) has surpassed the $200 mark for the first time since February. Dogecoin Price Prediction: Trading Volume Surges as DOGE Approaches $0.27 The trading volume of DOGE has increased significantly in the past few days. Yesterday, tokens worth 4 billion dollars were exchanged. This figure accounts for more than 11% of the circulating supply, indicating strong buying pressure as the price of DOGE approaches the psychological threshold of 0.25 dollars.
Data from CoinMarketCap shows that this is the highest trading volume in a day for DOGE since the end of July, when the price rose to 0.27 dollars. The daily chart shows that DOGE is once again targeting that level and may finally break through it as positive momentum accelerates. The relative strength index (RSI) has risen above the midpoint and is also above the 14-day moving average. If there is a price breakout above $0.27, this will reinforce the price prediction for Dogecoin at $1. This means a potential price increase of about 324% for this top meme coin in the next 3 to 6 months.