Dogecoin (DOGE) Price Likely To Hit $0.1 Amid Bullish Momentum

  • On January 13th, buyers attempted to push the price over the 50-day SMA at $0.08. 
  • Dogecoin is up 8.53% in the last 24 hours.

Dogecoin is still performing well despite a drop in value in 2022 owing to catastrophic occurrences and weak market circumstances. The coin’s first break of the $0.1 barrier occurred in January 2021, years after its first release, and its all-time high occurred in May of the same year, at $0.73.

On January 11 and 12, this year bears attempted to push Dogecoin below its 20-day EMA of $0.07, but the bulls stood firm. On January 13th, buyers attempted to push the price over the 50-day simple moving average (SMA) of $0.08. 

Further Bullish Momentum Anticipated

And as they have succeeded, the DOGE/USDT pair may accelerate toward $0.11 and begin a surge. At this price, bears might launch a major selling campaign. If the price suddenly drops from here, the pair might be stuck between $0.07 and $0.11 for quite some time. 

According to CMC, the Dogecoin price today is $0.087107 USD with a 24-hour trading volume of $1,196,005,599 USD. Dogecoin is up 8.53% in the last 24 hours. With the ongoing crypto market rally, it is highly likely that the Dogecoin price will continue its momentum. 

Twitter introduced a price index last month, enabling users to look up the current value of Bitcoin and Ethereum. The Dogecoin community was disappointed not to find Twitter CEO Elon Musk’s fav meme coin on the list.

However, a “cashtag” for Dogecoin (DOGE) in U.S. dollars (USD) has been introduced on Twitter, facilitating inquiries for the token’s current market value.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.