Dogecoin DOGE/USD displayed an impressive spike on Saturday, reaching its highest level since mid-March.
Reviewing the Surge: Dogecoin concluded Friday’s session at $0.152703 and started Sunday at $0.152775, continuing its upward trajectory. The coin has fluctuated between $0.151934 and $0.168061.
In the past 24 hours, Dogecoin surged by 10.53% to $0.165642 as reported by Benzinga Pro.
Future Projections: Initially slow to rebound, Dogecoin broke out of a consolidation phase at the end of February. After reaching a peak of $0.205439 on March 5, the currency retraced and hit a bottom of $0.123453 on March 20. Subsequently, it has regained some upward momentum.
Technical analysis hints at further upward potential, with crypto trader Yomi observing a potential break of an inverse head and shoulders pattern. Excitement brews over the weekend as the short-term fluctuations garner attention.
Image Source: Benzinga Pro
Notably, after surging to $0.737567 on May 8, 2021, Dogecoin experienced a prolonged downward trend for approximately a year. Since then, the coin mostly consolidated below $0.10.
Related: Speculation Arises Around Elon Musk’s X Venture and Potential Dogecoin Integration
Artificial Intelligence Image courtesy of Midjourney