Dogecoin Forms Major Golden Cross, Is $0.30 Next Target?

Key Points

1. Dogecoin's price rose 134% after its last golden cross in November 2024, reaching $0.46, and a similar pattern in November 2023 saw a 25% increase.

2. The moving average 50 has crossed above the moving average 200, indicating a bullish signal, with DOGE currently trading up 8.14% in the last 24 hours.

3. Potential price targets for Dogecoin include $0.287 and $0.30, with a further aim of $0.434 if these levels are breached.

4. Large holders (whales) are accumulating DOGE, and BitOrigin has reported holding over 70,543,745 DOGE in its treasury.

5. Market optimism is fueled by expectations of a Federal Reserve rate cut in September, contributing to Dogecoin's recent price surge.