Even though Dogecoin's value has decreased over the last day, the meme coin has performed well over the last week.
The memecoin broke over a crucial resistance level at $0.22 that had previously restrained its growth since late April, rising from a May low of $0.16428 to a high of $0.259 on May 23.
With numerous significant altcoins seeing gains as well, this breakout coincides with a shift in the general market sentiment toward bullishness.