Dogecoin Eyes Golden Cross, DOGE Day Hype Fuels Optimism
Dogecoin (DOGE) is the top-performing altcoin of 2024 so far, and anticipation is building for a potential Golden Cross and the upcoming DOGE Day.
Golden Cross on the Horizon
Popular crypto analyst Yomi recently shared his thoughts on the possibility of a Golden Cross for Dogecoin. While the upward trend needed for this bullish signal has been slightly delayed by two red weekly candles, Yomi believes a green week could put DOGE back on track. A Golden Cross occurs when the 50-week moving average crosses above the 200-week moving average, and is often seen as a sign of a long-term bullish trend.
Strong Year for DOGE
Despite a significant drop from its all-time high, Dogecoin has had a strong year in 2024. It’s currently up over 77% year-to-date, outperforming most other major altcoins. This positive performance comes after DOGE gained significant traction on social media during the 2020 and 2021 bull market.
DOGE Day Hype
The upcoming DOGE Day on April 20th is adding to the bullish sentiment surrounding Dogecoin. This annual event, celebrating the Shiba Inu dog that became the face of the meme coin, is expected to generate excitement and potentially lead to another meme coin rally. Some traders are anticipating a price surge, with one trader suggesting “the fun doesn’t begin until $0.25.”
Dogecoin Co-Creator’s Lighthearted Take
Billy Markus, co-creator of Dogecoin, recently commented on the recent market downturn with his usual dose of humor. Despite the drop, Dogecoin remains the best-performing altcoin this year. Markus’ lighthearted approach serves as a reminder of the inherent volatility in the crypto market, while also offering a positive outlook for the future, especially with the upcoming Bitcoin halving potentially leading to a market correction and subsequent rise.
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