The post Dogecoin’s surge hits snag: What’s next for DOGE? appeared on BitcoinEthereumNews.com.

Journalist Posted: November 25, 2024 After a sharp weekly rise, DOGE’s daily chart turned red.  The fear and greed index signaled a possible sell-off.  After a massive weekly rally, Dogecoin [DOGE] disappointed investors as its price dropped in the last 24 hours. Nonetheless, the memecoin was still on track to test its all-time high. Will DOGE set a new record, or will it leave investors expecting more? Dogecoin to test its ATH? As per CoinMarketCap, DOGE’s price shot up by more than 20% last week. The uptrend came to an end in the last 24 hours as the memecoin witnessed a 5% price correction. At press time, the memecoin was trading at $0.4373, making it the seventh-largest crypto. While that happened, MilkyBull Crypto, a popular crypto analyst, posted a tweet revealing that DOGE was near its all-time high.  Interestingly, an X user commented on the post, asking what the chances are of DOGE touching $5. In reply, MilkyBull Crypto mentioned that it was unlikely, but the comment also stated that anything can happen.  DOGE’s next move In the meantime, DOGE’s triaging volume dropped by 15%. This was good news, as a decline in volume amidst a price drop usually hints at a bullish trend reversal. But its Weighted Sentiment declined — a sign of rising bearish sentiment around Dogecoin.  Source: Santiment Another optimistic metric was the Open Interest, which dropped along with its price, suggesting a trend reversal soon. However, DOGE’s Funding Rate increased, indicating that derivatives investors were actively buying the memecoin at its discounted price.  Source: Santiment AMBCrypto’s look at Dogecoin’s daily chart revealed that its price was moving inside an up-channel and at press time, it was testing the pattern’s resistance. The MA Cross indicator revealed a clear bullish advantage in the market, suggesting a successful breakout.…

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Filed under: News - @ November 24, 2024 10:01 pm