• Dogecoin (DOGE) has seen a significant surge in price following the recent market rally.
• The leading meme coin is trading above all its major moving average (MA) indicators, and has a positive MACD signal.
• The Dogecoin Foundation is investing heavily in developers to help the coin reach a price of $1.
Dogecoin (DOGE) has been experiencing a remarkable resurgence in the crypto markets in recent days, with investors hopeful that the leading meme coin will be able to reach the $1 mark. DOGE is currently trading at $0.0840, indicating an uptrend of 0.39% in the past 24 hours. This is good news for investors, as the broader market has retracted by 0.53% during the same period.
On the technical front, Dogecoin is doing quite well. The digital asset trades above all its major moving averages, from the 10-day MA of $0.08366 to the 200-day MA of $0.08378. This is a bullish sign that the coin is likely to continue its uptrend. The asset also has a positive moving average convergence divergence (MACD) signal, which indicates that the price is likely to move higher. However, investors should be wary of the asset’s relative strength index (RSI) of 59.21, as it is approaching the overbought region.
The Dogecoin Foundation is also investing heavily in developers to help the coin reach a price of $1. The Foundation recently announced an investment of $1.2 million in the development of Dogecoin, which is being used to fund projects such as the Dogecoin wallet, the Dogecoin blockchain, and other development initiatives. The Foundation is also working with reputable developers such as Coinbase and Binance to ensure the success of the coin.
Overall, it appears that Dogecoin is in a good position to make a run towards the $1 mark. If the coin can maintain the current level of growth, and the Foundation continues to invest in its development, then it could be possible for the meme coin to reach its goal. Only time will tell if the coin will make it to the $1 mark, but for now, the prospects look promising.