Dogecoin (DOGE), the leading meme cryptocurrency, is poised to break a new annual record, according to a recent analysis. The analysis, conducted by cryptocurrency analysis platform IntoTheBlock, revealed that DOGE has been on an upward trend in recent days. In order to reach new highs, Dogecoin needs to successfully surpass the $0.20 price level, which is where 32 thousand addresses hold 3.78 billion DOGE at a loss.
It is important to note that on March 28, Dogecoin experienced a significant surge, rising nearly 20% in just 24 hours and reclaiming the $0.20 price level for the first time since December 2021.
As of now, the price of Dogecoin stands at $0.1922, with a 1.6% increase in the past 24 hours. The cryptocurrency has recorded a trading volume of $2.301 billion during this period. Over the course of the week, the DOGE price has seen a 6.0% increase.
Furthermore, cryptocurrency expert Ali Martinez suggests that Dogecoin may be gearing up for a massive parabolic bull run. He notes that DOGE appears to be following a chart pattern similar to the one observed from 2018 to 2021, indicating the potential for a significant upward movement. Martinez emphasizes the importance of Dogecoin in the altcoin space and believes that it could be at the beginning of a major bull run.
It is important to remember that the views and opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.