Doge In 'New Bull Market,' Says Crypto Trader As Meme Coin Reclaims 20-Cent Mark Amid Weekend Rally

Zinger Key Points
  • Doge peaked at $0.737567 on May 8, 2021 well ahead of the crypto market — and could be on another run.
  • An analyst says, technically, Doge's move resembles the pattern seen in the 2018-2021 period.

Meme cryptocurrency Dogecoin DOGE/USD has been rallying strongly this weekend as sentiment toward cryptocurrencies improved. Along with it, Dogwifhat WIF/USD also moved solidly higher.

What Happened: Doge, which ended Friday’s session at $0.177518, took off on Saturday and ended at $0.185951, a gain of 4.75%. The upward momentum accelerated on Sunday, helping the meme coin top the $0.20 mark for the first time since April 2.

At last check, Doge traded up 11.37% at $0.202750, according to Benzinga Pro data.

Crypto analyst Ali Martinez flagged at the end of March that Dogecoin could be in for a strong run, given the technical chart resembled the scenario that prevailed between 2018 and 2021.

See Also: 10 Best Cryptocurrencies

New Bull Run?

Following the weekend run in Doge, crypto trader Yomi said in a post on X on Saturday, “Don't forget folks #Dogecoin is in a new bull market. Sit back relax and enjoy the show.”

After peaking at $0.737567 on May 8, 2021, Doge witnessed a downward move for about a year and began consolidating around the $0.10 mark. It broke above the range in late February and has been on a broader uptrend since then.

Newbie Dogwifhat On Tear:  Solana SOL/USD-based, dog-themed meme coin Dogwifhat, which launched in November 2023, also rallied hard over the weekend, matching Doge’s gains. At last check, the crypto rose 9.52% to $3.6726.

Read Next: Top 10 Meme Coins to Look Out for in 2024

Photo: Shutterstock

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