The DOG•GO•TO•THE•MOON Price has surged by 22% in the last 24 hours to trade at $0.008765, on a 153% surge in trading volume to $89 million.
Amidst a broader downturn in the meme coin market, the DOG token has managed to sidestep the recent flash crash, impressing investors with its resilience.
Many anticipate further gains for the DOG price, with some suggesting it has already surpassed the moon and is heading straight for Mars. This is particularly notable given that the token has not yet secured any listings on major centralized cryptocurrency exchanges (CEXes).
Every memecoin in this image has a @binance listing and multiple other Tier 1 CEX listings except $DOG$DOG has zero Tier 1 CEX listings but is still hanging in there with all of the top memecoins
Imagine what happens when we finally get listed on even one Tier 1 CEX pic.twitter.com/novTPkdnrM
— Leonidas (@LeonidasNFT) May 29, 2024
Despite this lack of centralized availability, DOG is holding its own and competing well against top meme coins by market capitalization. The token’s ability to maintain momentum in the face of sector-wide turbulence has piqued the interest of many investors.
In the past week, DOG has also surged by 111%, driving its market capitalization to $866 million.
BREAKING: $DOG just flipped $BOME to become the #7 memecoin in the world! pic.twitter.com/pigUx4rFkq
— Leonidas (@LeonidasNFT) June 4, 2024
DOG•GO•TO•THE•MOON Price Continues The Rally Within A Rising Channel
The DOG•GO•TO•THE•MOON price indicates a bullish trend on the daily chart. The price has surged past the boundaries of an ascending parallel channel. However, after encountering resistance at the $0.009800 level, some DOG token holders have already begun taking profits from the recent price gains.
After a prolonged consolidation phase, the DOG price has found anchor support on the $0.002169 support zone, helping the bulls propel the price to the $0.008712 resistance level within a rising channel.
DOGUSDT. Source: Tradingview
Despite a recent dip caused by the bears, the bulls have shown resilience, bouncing back within the rising channel and driving the price above $0.008712, suggesting the bullish trend is continuing.
Moreover, the market shows bullish signs, as indicated by the formation of an inverted green hammer candlestick. This technical pattern, which appears at the low point of a downtrend, suggests a potential continuation of the bullish momentum.
DOG•GO•TO•THE•MOON Price Technical Indicators Signals a Surge
The technical indicators are pointing to a bullish outlook for DOG, with the potential for the price to surge further if the bulls maintain their momentum. Currently, the price is trading above the 50 and 200 simple moving averages (SMAs) on the 4-hour chart, which supports the upward trend.
The MACD (Moving Average Convergence Divergence) shows the blue average line above the orange signal line, and the green histogram suggests increasing bullish momentum above the neutral level.
Additionally, though in decline, the Relative Strength Index (RSI) indicates a bullish momentum above the 50 midline level, indicating intense buying pressure for DOG.
If this momentum continues, the price could break past the $0.008712 resistance level, potentially reaching a new high of $0.025 in the coming days.
However, if the price struggles to overcome the $0.008712 resistance, it might face a downturn, making the $0.006567 support level crucial for DOG.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
