After gaining significant profits by gaining a positive momentum, the crypto money market again entered a cooling phase. While the total value of the crypto market fell 2.25% to $1.22 trillion, dogecoin relatively less affected by the declines. DOGE was trading at $0.07245, up 2.6% in the last 24 hours at the time of reporting.
Dogecoin joined the XRP-backed uptrend earlier in the week and rose as high as 13.52% in that time frame. The rise also contributed to the poor performance of the Shiba Inu (SHIB) and PEPE Coin (PEPE) meme coins.
According to popular analyst Ali Martinez, DOGE is attempting to break the $0.075 price level. If it succeeds, over 176,000 addresses have previously purchased more than 12.3 billion DOGE tokens. can trigger.
#dogecoin is trying to break out!
NEWS CONTINUES BELOWSlicing through the $0.75 supply wall will trigger a 10% upswing to $0.85, where 176,000 addresses had previously purchased over 12.34 billion $DOGE. pic.twitter.com/RJw7v7q30X
— Ali (@ali_charts) July 15, 2023
NEWS CONTINUES BELOW
The continued rise has also contributed to the increase in trading volume, which has increased by more than 14% overnight, according to data from CoinMarketCap.
It is also very important that the current Dogecoin rally is not supported by an unexpected Elon Musk support or similar speculative element. meme coinGrowth follows the overall market trend, which is more credible to aid its sustained rise in the near-term. However, the volatility in price may lose its strength in a short time and become compatible with the general trend in the market.
You can follow the current price action here.