Dogecoin is up 6% in the last 24 hours.Next target: $0.17 mark

Dogecoin started rising again today, rising 6% in just 24 hours and peaking at $0.127.

However, over time, DOGE has lost momentum and is currently trading at $0.122. coin gecko.

Let’s take a quick look at MemeCoin’s performance.

• Dogecoin is up over 100% in the last two weeks
• If the $0.14 barrier is broken, DOGE could reach $0.17.
• Altcoins May Also Revisit Newly Established $0.111 Support Zone

A 105.8% surge in price over the past two weeks, and has continued to rise in recent days. Month-to-date performance continues to be impressive as it maintains a 93.7% price increase.

Dogecoin is still twitter purchase done of Elon Musk.

However, with speculative reports circulating about Twitter’s plans to shut down cryptocurrency wallets and integration-related projects, the community soon found plenty of reasons to piss off “Dogefather” and his social media platform. may have.

Still, such unconfirmed developments cannot deter altcoins from rising at the moment. In fact, technical indicators point to another uptrend for the “top dog” in the crypto space.

Dogecoin’s Next Target: The Elusive $0.17 Mark

From October 25th to November 1st, DOGE increased significantly, with an ROI of 140% for holders.

Source: TradingView

More importantly, that particular surge allowed the altcoin to hit the $0.111 resistance zone into direct support range. It was meant not to be.

of upward movementBut stopped at $0.14. This is now key territory for dog-themed cryptocurrencies if they want to step into the elusive $0.17 marker.

Simply put, if DOGE hits $0.14 in the next few days and manages to sustain and exceed it, the next stop for digital assets will most likely be $0.17.

However, this will only happen if Dogecoin’s volume trend also increases. If not, cryptocurrencies will be forced to test their newly established support regions. But if that happens, analysts believe the digital coin will eventually bounce back almost immediately.

Growing interest in Dogecoin

One thing that is sure to help cryptocurrencies right now is the undeniable surge in interest in cryptocurrencies right now among crypto market participants.

This is evident in the data related to asset open interest observed across all exchange platforms over the last 24 hours.

According to the latest results, Dogecoin has registered an 8.5% increase in its sector in a short period of time, indicating growing interest in meme tokens in 2013.

Again, this could be attributed to the idea that “dogfather” Elon Musk now owns Twitter.Not long ago, billionaires Ideas using DOGE As payment for the services of some social media platforms.

DOGEUSD trading at $0.12382000 on the weekly chart | Featured image from Crypto News, Chart: TradingView.com