Dogecoin maintains upward trajectory as its price holds above $0.19, reflecting a 17.4% monthly gain that underscores market resilience. Technical indicators suggest the cryptocurrency’s bullish trend may extend further.
Analysts observe a completed 5-wave Elliott pattern alongside a Descending Broadening Wedge formation, both signaling continued positive momentum. Complementing these patterns, the stochastic RSI indicator recently flashed a bullish crossover – a technical event that historically precedes upward price movements in Dogecoin.
Robust market activity accompanies the technical outlook, with Dogecoin recording $2.05 billion in 24-hour trading volume and maintaining a market capitalization of $29.57 billion. The volume-to-market cap ratio of 6.97% indicates sustained investor engagement and healthy liquidity conditions within the cryptocurrency market.