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Junior Content Creator
Harvey Hunter
Junior Content Creator
Harvey Hunter
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Why Trust Cryptonews
Over the past 24 hours, the Dogecoin price has remained consistent in its bout, adding 1.73% and contributing to the 2.60% growth across the meme coin sector.
This resilience may be setting the stage for a more pronounced upward movement as bullish indicators start to emerge.
Since last Thursday, Dogecoin has managed to find its footing, gaining 2.96% and reaffirming its positive momentum.
Meanwhile, trader interest remains strong, with the meme coin’s trading volume holding steady above $500 million over the past 24 hours.
Indicators Ring Bullish – What’s Stopping a Dogecoin Price Surge?
Although these developments ring bullish, Dogecoin has found difficulty progressing past a key resistance level.
The upward move today has been somewhat snubbed as Dogecoin failed to overcome the stubborn resistance presented at $0.10800.
However, after finding its footing at the $0.10400 support level, it is showing promise in its next run-up.
Most Notably, the Relative Strength Index (RSI) (purple) has dipped from 75 to 60 since today’s peak. This represents a shift from an overbought state to a more neutral one, erring on bullishness.
This is typical of a correction, yet it’s important to note that we haven’t retraced into bearish territory—the underlying buying pressure remains strong despite the price lapse.
Likewise, Dogecoin’s Chaikin Money Flow (CMF) (green) remains in positive territory, currently sitting at 0.15. This indicates persistent buying pressure, making a potential price rally credible.
Over the past 48 hours, the 50 EMA (pink) and 20 EMA (yellow) have remained above the 200 EMA (blue) following their crossover, with all three EMAs showing an upward trend.
This alignment of short-term, mid-term, and long-term indicators supports the bullish momentum in Dogecoin’s price. Given this robust bullish trend across multiple timeframes, further price increases are likely.
Therefore, given we can successfully overcome the immediate resistance restraining the Dogecoin price, traders should look for a further push to resistance at $0.12750 before we approach $0.15.
There’s A New Shiba Inu in Town
Although traders may want to cling to Dogecoin for further gains, the meme coin landscape has evolved. The best opportunities now leverage real utility alongside a strong community.
As the leading hype-based coins reach multi-billion dollar market caps, their biggest gains are behind them, and traders are hungry for the next meme coin set for explosive growth.
Enter Shiba Shootout ($SHIBASHOOT), the latest meme coin in the crosshairs of meme fans, gamers, and crypto enthusiasts alike.
The meme coin market is saturated with Shiba Inu-themed coins boasting little to no real utility. In contrast, Shiba Shootout seeks to embed itself as a pioneer in gaming utility. Something that may be credited to its instant success, with over $1 million raised in its presale so far.
Set in the heart of the Wild West crypto frontier, Shiba Shootout’s play-to-earn (P2E) game has been approved on Google Play and the Apple App Store – its release is imminent.
As a governance token, $SHIBASHOOT will put the projects in the hands of token holders. Presale contributors can even participate in the refer-a-friend scheme to earn bonus tokens – community is at this project’s heart.
At a fixed presale price of just $0.0199, those who act quickly stand to benefit the most. Saddle up today and start earning high staking rewards at 931% APY, one of the best passive income opportunities right now.
Join the posse, Follow Shiba Shootout on X, and telegram to stay updated.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
