Dogecoin (DOGE) is ready to break above $1
What about you, are you ready?
As the first cryptocurrency quarter of the year comes to an end, the market is anticipating a bull run from the upcoming halving event. Since the beginning of the month, the market has set off a halving craze, and a similar market may reappear at the end of the year.
The price of Bitcoin exceeded US$70,000 in one fell swoop, and market confidence increased significantly. Dogecoin is even more powerful, with the price hitting a new high for the year and a strong bullish sentiment in the market.
After more than 24 months of consolidation, Dogecoin has sent out a strong bullish signal. The weekly chart shows that after consolidating above key support for several weeks, prices have initiated a rapid advance towards local highs. Technical indicators such as the RSI and MACD are showing increasing buying pressure, indicating that strength may remain in the future.
Considering the FIB level, Dogecoin is expected to continue rising over the longer term and possibly reach higher prices. Although market participants still have doubts about the upcoming trend, similar to the 2021 bull market, 2024 is also expected to be a strong year for memecoins such as Dogecoin, and Dogecoin may soon break through the $1 mark.
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