On Sunday, the cryptocurrency market experienced a wild crash causing Bitcoin and other major altcoins prices to dump. Surprisingly, the Dogecoin (DOGE) price stayed positive and surged over 56% in a day. Notably, DOGE is one of the cryptocurrency that remains bullish despite the market crash.
DOGE Price Remains Bullish
DOGE is the cryptocurrency token that launched as a joke in 2013. According to CoinGecko, the DOGE price is $0.36 with a 24-hour trading volume of $25,763,230,230, at the time of writing.
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The above daily time frame chart shows the Ascending Channel pattern. An Ascending Channel is the price pattern that occurs between upper inclining equal trendlines. Even more, higher highs and higher lows structure this price pattern.
As shown above, towards the beginning of this period, DOGE abandoned a bearish pattern to bullish. In addition, the price surged from $0.23 to $0.37 in the last 24 hours and the price is still surging.
Added to this, DOGE has shown an astonishingly high trading volume, overtaking that of Ether (ETH), the second-biggest cryptocurrency overall after Bitcoin (BTC).
Recently, the DOGE price reached a new all-time high of $0.437. This price surge was due to Elon Musk’s tweet ‘Doge Barking at the Moon’.
In addition, the US-based crypto exchange Coinbase went public last week, with a direct listing of its shares on Nasdaq. Moreso, this news led all the major cryptocurrencies prices including DOGE to surge.
This article was first published on coinquora.com
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Source: Cryptocurrency - investing.com
