The daily timeframe of the cryptocurrency suggests that DOGE is getting close to the major resistance line of the 50-day Exponential Moving Average, which is often considered a barrier between descending and ascending trends.In the event of a breakthrough, Dogecoin will be set for a strong recovery rally despite already gaining over 40% to its value in the last seven days, which makes it one of the most profitable assets on the cryptocurrency market.
Dogecoin's"competitor" Shiba Inu has also shown quite a strong performance on the cryptocurrency market by showing a 50% gain in the last five days, which also makes it one of the strongest assets in the top 100 cryptocurrencies by market capitalization.SHIB also broke through the 21-day Exponential Moving Average resistance line and is now consolidating at the 50-day EMA, which Dogecoin is only yet to reach in the upcoming days.
doge to the moon 🌙 🚀🧨