The recent price movement of Dogecoin (DOGE) has been phenomenal, and as a result, many people are feeling the exhilaration of a bull market.
The price of Dogecoin (DOGE) has been a prominent player. A more positive environment is created by the price of Bitcoin (BTC), which has also served as a trigger for the price of Dogecoin (DOGE) given how the market has begun to show some respite on all fronts.
As more and more cryptocurrencies manage to produce returns of over 150% over the previous 7 days since bursting out of their range-bound trend, the cryptocurrency market is beginning to look more and more inviting. Recently, stocks such as Dogecoin (DOGE) have experienced some fantastic rallies, rising to a $0.15 high from a $0.055 low.
The previous few weeks have been challenging for the cryptocurrency market, with many altcoins finding it difficult to maintain their crucial support bases. The crypto market has felt some respite as the week appears to be more positive and Bitcoin (BTC) prices are rising.
The price of Dogecoin (DOGE) rose to a high of $0.14 after closing over $0.07 on a weekly basis. There was a slight resistance to breaking higher to a zone of $0.15, but the price found it difficult to breach over this area.
The Dogecoin (DOGE) price has remained over $0.145 and has maintained a bullish layout as it targets a surge to $0.18, which could play a crucial role in driving the price of the memecoin $0.2 should it take place. If the price of Dogecoin (DOGE) does not rise beyond $0.2, it can fall to between the $0.18 and $0.15 range.
When the price of Dogecoin (DOGE) managed to break out of its bullish extension trend on the daily timespan, it kept looking solid. It then returned a bit to accommodate more buy orders. The Dogecoin (DOGE) price has since kept rising with robust volume to a $0.158 high but has encountered some slight resistance.