DOGE Price Jumps by 25% in 15 Days
Since mid-July, Dogecoin has seen a surge in value, with support from Elon Musk who recently changed his Twitter profile to feature the altcoin.
On Friday, July 27, the share price hit its peak of $0.079. It rose above $0.08 at the start of the week, but dropped again due to resistance.
At the moment, the cryptocurrency’s market cap was at a total of around $11.000 billion. Meanwhile, the two-week average of traders’ returns topped 2% for the first time in about 12 weeks.
Additionally, 58% of wallets held profits while 39% had losses.
The open interest in DOGE futures reached its highest level since April 19 ($512 million).
The relative strength index suggest that the altcoin may be overbought, which leaves analysts to anticipate a correction at any moment.
Experts believe Dogecoin may find a bottom at $0.07, though if sales become extensive, it could possibly fall lower.
