- Dogecoin surged by 8% within the final 24 hours.
- Metrics point out a possible reversal on the $0.1145 key stage.
Dogecoin [DOGE] has been on a wild trip over the previous 4 weeks. Because the broader cryptocurrency market witnessed volatility, DOGE was additionally engulfed within the value swings, leaving buyers involved about its future.
DOGE’s value has dropped by 32% within the final two weeks. The descending trendline signifies a bearish market.
Nevertheless, the latest value actions counsel a possible bullish reversal as the worth has surged by 8% within the final 24 hours.
Dogecoin was buying and selling at a median value of $0.1247 at press time. Its 24 hour buying and selling quantity stood at round $851.62 million, with a market cap of $18.03 billion.
![](https://ambcrypto.com/wp-content/uploads/2024/06/DOGEUSD_2024-06-19_15-51-45_11b62.png)
![](https://ambcrypto.com/wp-content/uploads/2024/06/DOGEUSD_2024-06-19_15-51-45_11b62.png)
Supply: TradingView
The stochastic RSI signifies an oversold zone, which might precede a bullish reversal. Nevertheless, the transferring common convergence divergence indicator exhibits fading bearish momentum, because the latest bearish bars are fading with time.
Social quantity and growth actions to gasoline a reversal ?
Santiment’s information indicated a spike in DOGE’s social quantity and growth actions.
This spike suggests a renewed curiosity within the Dogecoin group. The surge in growth exercise might sign ongoing enhancements associated to DOGE, which might doubtlessly appeal to extra buyers.
![](https://ambcrypto.com/wp-content/uploads/2024/06/Dogecoin-DOGE-15.32.59-19-Jun-2024.png)
![](https://ambcrypto.com/wp-content/uploads/2024/06/Dogecoin-DOGE-15.32.59-19-Jun-2024.png)
Supply: Santiment
Liquidation and quick squeezes
In response to Coinglass’ liquidation map information, DOGE had a number of spikes in each lengthy and quick liquidations, suggesting excessive volatility and potential quick squeezes.
This situation can gasoline fast value surges, as seen within the latest DOGE rally.
![](https://ambcrypto.com/wp-content/uploads/2024/06/doge-liquidation-19.06.jpg)
![](https://ambcrypto.com/wp-content/uploads/2024/06/doge-liquidation-19.06.jpg)
Supply: Coingalss
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Moreover, the lengthy quick ratio information present a optimistic pattern, indicating that lengthy place buyers are in charge of the market. T
he shopping for stress at this significant stage might intensify the bullish stress on Dogecoin, therefore surging the worth.
![](https://ambcrypto.com/wp-content/uploads/2024/06/doge-long_short-ratio-19_06.jpg)
![](https://ambcrypto.com/wp-content/uploads/2024/06/doge-long_short-ratio-19_06.jpg)
Supply: Coinglass