Dogecoin Golden Cross Sparks Bullish Rally, Eyes $0.30 Next
Dogecoin (DOGE) has formed a bullish golden cross on its daily chart, as the 50-day moving average crossed above the 200-day moving average. This Dogecoin golden cross signals a shift toward upward momentum after a recent rebound. Over the past seven days, DOGE climbed 21%, recovering from a low of $0.218 to trade around $0.241, up 8.1% in the last 24 hours amid speculation of a U.S. Federal Reserve rate cut. Historically, similar Dogecoin golden cross events in November 2023 and 2024 preceded gains of 25% and 134%, respectively. The next resistance levels stand at $0.287 and $0.30, with a decisive break potentially targeting $0.434. Whale accumulation remains strong, highlighted by BitOrigin’s treasury exceeding 70.5 million DOGE.
Bullish
The formation of a golden cross is widely regarded as a bullish technical indicator, especially when confirmed on a daily chart. Similar patterns in November 2023 and 2024 led to substantial rallies, reinforcing trader confidence. Recent gains of 21% and strong whale accumulation—evidenced by BitOrigin’s 70.5 million DOGE treasury—suggest sustained buying pressure. In the short term, traders will watch key resistance at $0.287 and $0.30 for breakout confirmation. Over the longer term, a decisive breach could pave the way toward $0.434, underpinned by renewed market momentum and positive sentiment around possible Fed rate cuts.