Dogecoin (DOGE) Price Rallies Over 4%: Can the Meme Coin Maintain Momentum?
NEW YORK – Dogecoin (DOGE), the popular meme-inspired cryptocurrency, showed significant upward movement against the US Dollar on Friday, April 12th, attracting attention from crypto traders.
As of 6:27 PM UTC, Dogecoin was trading at 0.0070 for the day, marking a 4.38% increase compared to its previous closing value of $0.1597.
The intraday trading chart for DOGE reveals a positive trajectory. After starting the UTC day below the $0.16 mark and experiencing a brief dip under $0.158, the cryptocurrency began a steady ascent. The price gained momentum, particularly in the afternoon session (UTC), pushing towards highs near the $0.169 level before settling slightly lower around the $0.1668 mark observed at the timestamp.
This recent rally has pushed Dogecoin comfortably above the $0.16 level. Given the inherent volatility of meme coins, traders will be closely watching if DOGE can consolidate these gains and hold support above the 0.166 area. A sustained move above the recent intraday peak near $0.169 could potentially signal further bullish momentum, while a drop back below $0.16 could indicate a loss of the current upward drive. The next few trading sessions will be key in determining Dogecoin’s near-term direction.
