The DOGE coin price experiences a sudden jump in buying pressure and aims to break above the long coming resistance trendline. Dogecoin is an adaptation of the popular “doge” Internet meme and has an image of a Shiba Inu on its logo. The digital currency that is open source was invented by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was developed from Litecoin in December 2013. Dogecoin is different from Bitcoin’s Proof-of-Work protocol in a variety of ways. One of these is that it uses Scrypt technology. It also has an average block time of one minute, and the total supply is unlimited. Let us move ahead to read about Dogecoin technical analysis. Past Performance of DOGE DOGE coin price shows a growth of more than 15% in the past three days from the descending support trendline. The price action forms a triple white soldier pattern teasing a post-breakout bull run. Currently, the price rests near the resistance trendline of the wedge pattern, and the breakout will trigger an excellent buying opportunity. DOGE/USD Daily Chart DOGE Technical Analysis The DOGE coin price action shows a reversal in the long-coming downtrend. Moreover, the price highly influential bearish trendline weakens over time, increasing the chances of a bullish breakout. The crucial EMAs (50, 100, and 200) maintain a falling trend in the daily chart. These EMAs can act as dynamic resistance levels, and the breakout of...
