Dogecoin (CRYPTO: DOGE) ended the week on a positive note, as the cryptocurrency market celebrated fresh all-time highs for Bitcoin (CRYPTO: BTC).
DOGE Builds Momentum
The dog-themed meme cryptocurrency rose to $0.26 in the early hours of Sunday, coinciding with Bitcoin’s move past $125,000.
Profit-taking pulled the coin back into the $0.25 range overnight, while trading volume jumped 60% in the last 24 hours.
Despite the retracement, DOGE was up 8% over the week, outperforming large-cap coins such as XRP (CRYPTO: XRP).
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
DOGE To Hit $0.30 Soon?
Widely followed cryptocurrency analyst Trader Tardigrade highlighted a cup and handle formation on DOGE’s 4-hour chart, projecting a target of $0.30 if the “pattern plays out.”
For the curious, a cup and handle is a bullish continuation pattern that consists of a brief pullback followed by a rise back up to the original value.
What Do Technicals Suggest?
Meanwhile, the Moving Average Convergence Divergence indicator, which shows the relationship between two moving averages of an asset's price, flashed a "Buy" signal for DOGE, according to TradingView.
On the other hand, the Bull Bear Power indicator, which measures the strength of buyers and sellers in the market, was "Neutral."
Price Action: At the time of writing, DOGE was exchanging hands at $0.2540, down 1.79% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Akif CUBUK on Shutterstock.com
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