Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is for informational purposes only. U.Today is not responsible for any financial losses incurred when trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content is accurate as of the date of publication, but some offers mentioned may no longer be available.
Dogecoin (DOGE) has maintained a growth of over 27% over the past seven days as some altcoins have started to reduce their gains. From your current perspective, Dogecoin is up 7.57% to $0.07143, cementing its position as one of the top gainers on the top 10 capitalized coins list.
While there is slight doubt about Dogecoin bulls’ ability to maintain this current bullish trend, top analyst Rekt Capital said, in what he called the “Moment of Truth for #DOGE,” that FOMO wicks have occurred, implying that we may see more capital inflows for the meme coin in the coming days.
He went on to say that a weekly close above $0.07163 will be a great signal that will help herald a breakthrough for the coin.
Notably, DOGE’s latest price rally has lacked the influence of its main promoter, Elon Musk. In addition to the broader market rally igniting bulls breaking their prolonged dormancy, buyers viewed the previous bearish performance and accompanying declines as enough impetus to take new positions in the currency.
So what comes next?
The current growth of DOGE has dispelled the narrative that there is no fight left for the digital currency. Optimism in determining what comes next depends on its trading volume, which went parabolic to $1.1 billion, an increase of more than 163% overnight.
Previously, it was unclear whether DOGE was still in the meme coin wars, with Shiba Inu (SHIB) taking the stage with its Shibarium launch. Today, Dogecoin has deepened its market capitalization while maintaining a more positive outlook for whales within its ecosystem.
If its current performance holds, Dogecoin is on track to retest the $0.081 price level, a level that, if achieved, will mark the highest price since July 25.
