Dogecoin (DOGE) Reclaims $0.18, Key Price Scenarios to Watch

Dogecoin (DOGE) Price Surges Past $0.18

Dogecoin has experienced a significant price increase, surpassing $0.18 and continuing its upward trend. Just a week ago, DOGE struggled to break through the $0.1568 resistance level.

Bullish Breakout and Bitcoin Correlation

According to CoinMarketCap, DOGE has reached new highs, regaining considerable attention. The price peaked at $0.1923 before a minor correction. At the time of writing, DOGE trades at $0.1813, representing a 1.1% increase over the past 24 hours and a 15% rise over the past week. High trading volume, up 29.63% to $1.96 billion, suggests continued investor activity.

DOGE appears poised to dominate the meme coin market. The asset's formation of lower highs suggests an impending bullish breakout, potentially solidifying its position above $0.19. Some believe DOGE's rise is linked to Bitcoin's (BTC) current bullish trend, speculating that a BTC price reaching $100,000 could further propel DOGE's upward movement. Sustained momentum could drive DOGE towards $0.195. A recent 80% surge in trading volume significantly contributed to the coin's rebound.

Potential Impact of ETF Applications

The Dogecoin community awaits the outcome of several pending exchange-traded fund (ETF) applications currently under review by the Securities and Exchange Commission (SEC). A favorable decision could positively impact DOGE's long-term price outlook. Read original article on U.Today