Due to the price increase, Dogecoin was able to overcome significant obstacles that had been impeding its growth for several months, including the MA 200 barrier at $0.069 and the daily moving average MA 50 barrier at $0.061.
Should the uptrend continue, Dogecoin may target $0.083 as its next target. However, Dogecoin may try to turn the $0.069 MA 200 level into support if the rally slows.
Dogecoin is still being developed in the meantime. On X, Dogecoin fan Mishaboar noted that development is still underway on the next minor release of Dogecoin Core v. 1.14.7.
Michi Lumin, the key creator of Dogecoin, mentioned earlier in October that steps to implement RadioDoge in the community were beginning to take shape.
He continued by saying that a weekly closing over $0.07163 will create a strong contributing signal and indicate a significant turning point for the coin.
https://x.com/rektcapital/status/1717472992295321783?s=20
Notably, Elon Musk, the company’s main advocate, has had little impact on the most recent increase in the price of DOGE. In addition to the general market upswing that sparked the bulls and ended the coin’s protracted hibernation, purchasers deemed the coin’s prior negative performance and the losses that went along with it to be sufficient encouragement to open fresh holdings.
So, what comes next?
The myth that there is no longer a battle for digital money has been debunked by the rise in DOGE. The trade volume increased by more than 163% overnight to $1.1 billion, a parabolic figure that raises hopes for what can come next.
Prior to Shiba Inu’s (SHIB) announcement of Shibarium, it was unclear if DOGE was still involved in the meme currency competition. As of right now, Dogecoin’s market capitalization has increased and its forecast for whales inside its ecosystem has remained more optimistic.
Dogecoin is poised to retest the $0.081 price level, which would be the highest price point since July 25 if its current performance holds.
