Dogecoin’s Current Price Action Exhibits Positive Trends

The breakout from a falling wedge in September ignited a wave of optimism that carried into October, resulting in an impressive overall increase of nearly 65% at the time of writing. On the daily chart, the price trend has shifted from bearish to bullish, notably crossing the $0.128 mark this month.

This trend closely follows the movements of Bitcoin, reflecting similar patterns on the Dogecoin chart. Just as Bitcoin has remained above a key support level, Dogecoin has also established support at $0.128.

Following Bitcoin's bullish performance over the past 48 hours, Dogecoin has also seen positive momentum.



In October, Dogecoin demonstrated a positive trend by remaining above the critical support level of $0.128, which had previously acted as a barrier to its growth since July. Surpassing this mark has boosted investor confidence significantly.

In the short term, it appears poised to reach $0.1747, but it must first clear the $0.15 level to achieve that target. If it fails to do so, it may continue to consolidate above the $0.128 support.

Looking ahead, long-term growth is expected to be substantial, with many analysts expressing a bullish outlook online.