Dogecoin Jumps 6%, Overtakes Ethereum And XRP
On May 1st, the DOGE price was moving around $0.1810, marking a nearly 6% increase over 24 hours. During this period, Ethereum and XRP did not keep pace, leaving Dogecoin to earn the label of “altcoin of the day“. However, trading volume dropped by 11%, suggesting that this rise happened quietly. No matter: “Dogecoin is forming higher and higher lows“, announced an analyst.
Overall, it is preparing to stabilize above $0.19. Analyst Thomas Anderson mentions a “rising wedge formation” on the 30-minute chart, a pattern often signaling sharp increases. If DOGE crosses the $0.22 mark and its 200-day moving average, the path will be clear.#Binance