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Dogecoin Is Observing Strong Rallies, Twitter May Add A Positive Factor To Its Price

Dogecoin (DOGE) has displayed a strong performance in the latest trading session. It is among the few luckiest crypto whose prices have moved in the exact opposite direction versus the general market sentiments.

DOGE’s Recent Performance

The value of Dogecoin has experienced a strong rally in the recent trading session. It has successfully hit a multi-week high and it is all thanks to the bulls.

They have provided strong support to the asset in pushing DOGE to a higher trading mark. It is expected that the trading price of DOGE may continue getting pushed higher in near future.

A day back, the trading price of DOGE was at a low of $0.08089. However, the momentum was building up so the analysts had predicted its value would continue surging.

The trend continued and as a result, the trading price of DOGE was able to grow in value. The value of the largest meme coin reportedly hit its peak price on Friday’s trading session, going up to $0.09099.

Due to the recent push, the trading price of DOGE has hit a trading level that it had not hit since November 14. Prior to hitting the $0.09099 level, the bulls had to face the strong resistance of the bears at $0.0870.

The data shows that the $0.0870 level is the ceiling mark for DOGE and the bears were defending it with strong power. However, the rally proved quite powerful against the bears and the bulls prevailed.

They were able to knock out the bears and the price of DOGE rose above the $0.0870 level.

DOGE Price has suffered a Loss

After hitting the peak price on Friday, the value of the DOGE has slid and it is currently hitting a lower level. The earlier highs have faded and it is mainly because of the RSI of DOGE moving into neutral territory.

Although the RSI was moving higher and it had risen to 51.22, it has not moved further to hit the ceiling at 51.50. This means that the RSI has become neutral and now it is up to both sides to move it to their corners.

At the time of writing, the trading value of Dogecoin (DOGE) is worth $0.08749 but it may hit another peak price soon.

This is because there are high hopes among investors that Twitter is soon going to announce the integration of DOGE into its platform.

Twitter had intended to adopt and launch DOGE as the native token on their platform. The social media giant is now on the track to becoming an online payments portal such as PayPal.

If more positive news comes in favor of DOGE, its rally will be unstoppable. In that case, the trading price of DOGE may surge significantly and may even hit and cross $0.1000.