updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131After Bitcoin’s BTC/USD spike, it appears that it’s the turn of Dogecoin DOGE/USD to play catch up with the apex crypto.
What Happened: DOGE, which bottomed in late 2022, began a short-term uptrend at the start of the new year. It hit a resistance area around $0.0918 on Jan. 14, but could not successfully go past the level.
After retracing some of the gains, the meme crypto found support around the $0.08 level. Since Friday, Doge has picked up additional momentum amid the general increase in risk appetite. It moved in the $0.0808-$0.0868 range on Friday.
After hitting an intraday high of $0.887 on Saturday, DOGE settled the session at $0.0848. Come Sunday, the upward momentum has accelerated, pushing the crypto past the $0.090 level, marking its highest price since mid-December.
See also: Is Dogecoin A Good Investment
Why It’s Important: Dogecoin’s run-up on Sunday came despite the Bitcoin rally losing steam. The rally could be a technical move as the crypto approached the near-term resistance. The upside has not been accompanied by a pick-up in volume, probably due to the typical light-volume trading witnessed during the weekend. A move past another resistance area around $0.0112 could lend some more credibility to the rally.
At last check, Dogecoin was up 8.75% in 24 hours to $0.09221, according to Benzinga Pro data.
Read next: Analyst Says Bitcoin Surge Has Just Begun, Anticipates This Price Target By February