Could DOGE Spark a Surge in Meme Coin Prices?
Dogecoin, the meme cryptocurrency, has shown signs of decoupling from the broader crypto market as its price gained 9% since the start of April. Analysts at crypto intelligence tracker Santiment have commented on Dogecoin’s decoupling from the market, and predict a bullish sentiment among holders, with some expecting DOGE to reach $0.8 in a massive price rally. During an accumulation phase, large wallet investors have been continuing to accumulate the Shiba Inu rival, buying over 10 million DOGE worth $123.1m in the last three months. If Dogecoin price sustains its uptrend, a bullish breakout is likely, the Santiment analysts said, with DOGE facing resistance at Fibonacci Retracement levels of $0.21, $0.31, $0.47, $0.59, before hitting its bullish target.