Possible Improved Outcome Could Boost Dogecoin (DOGE) by 20%: Insights Provided
Dogecoin, the eighth-largest cryptocurrency, has seen a steady rise since hitting lows of $0.062 on March 10. It is currently up 8.65% in the last 24 hours, trading at $0.083. The cryptocurrency has consolidated in a range since reaching highs of $0.075 on March 14 but has now resumed its rise, pushing Dogecoin above the barrier, coinciding with its daily moving averages of 50 and 200. Analyst Ali has suggested that Dogecoin is forming an ascending triangle on its 12-hour chart, and traders should watch for a candlestick closing above the 200 EMA, which could trigger a 20% upswing to $0.093, while a sustained drop below $0.072 could invalidate the signal. The daily chart shows bearish crossover of moving averages and a positive daily RSI that could suggest Dogecoin’s price action is favorable for either bulls or bears in the coming days. Burger King UK flirted with Dogecoin this week, continuing the trend of Dogecoin gaining more mainstream attention. Elon Musk has requested the dismissal of a $258 billion racketeering lawsuit that accuses him of operating a pyramid scheme to support Dogecoin, rejecting the claim that Dogecoin meets the criteria for securities.