May 10, 2024

Dogecoin (DOGE), the world's largest meme cryptocurrency by market value, appears headed toward a repeat of the bullish "golden cross" pattern that presaged the early 2021 surge.

Video transcript

The chart of the day is presented by, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day, Doge coin looks like it's headed for Golden Cross. Doge's weekly price average appears on track to confirm the bullish event. The previous Golden Cross was seen early in January 2021 and was followed by an 8000% surge the 50 week. Simple moving average of the memes token spot price is now trending north and looks set to cross above the 200 week. Simple moving average in the upcoming weeks confirming a Golden Cross. In other words, near term price, momentum could soon outperform long term momentum potentially evolving into a prolonged bullish trend. Momentum traders use these crossovers as a part of a structured approach to identify entry and exit points in the market as of 11 am Eastern time, Doge was at 14 cents. That's it for today's chart of the day. I'm Jen San Nay. We will see you next time to unpack more of the data behind top news stories.

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