Doge Price Surges 30% with Signs of Overstretched Trading – Possible Correction Ahead

Dogecoin (DOGE) has been making waves recently in the world of meme coins, which have been capturing a lot of attention. In the past 24 hours, Doge reached a new multi-month high after rallying impressively.

Throughout this month, Doge has shown remarkable performance, hitting several key levels and achieving a new milestone last week. However, it faced a setback when it was rejected, leading to a pause in buying and a correction for a week. But the bulls regrouped mid-week and made a strong push, resulting in a notable surge and a higher price today.

While there is a possibility of increased volatility that could drive a significant price movement in the coming days, many believe that the price is currently overstretched and due for a correction. This correction could prompt a temporary setback in the market before finding support for a rebound, offering a discount for buyers eyeing mid-term gains. However, some speculate that the price might continue to rally before any correction takes place, as it has already increased by approximately 250% in the last month.

For investors closely watching DOGE, the key levels to keep an eye on are $0.5, $0.6, and $0.7 as potential resistance levels. In case of a correction, support levels to watch are $0.35, $0.298, and $0.229. The current spot price of Dogecoin is $0.427, with a bullish trend and high volatility.

As always, it’s essential to conduct thorough research before investing in any cryptocurrency or related services. Stay informed with the latest news in the world of Crypto, NFTs, AI, Cybersecurity, Distributed Computing, and the Metaverse by following us on Twitter @nulltxnews.

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