Dogecoin Leads In Key Metric: Signs Of A Major Price Breakout Emerge
Dogecoin is gaining attention amid a surge of meme coins linked to Donald Trump's recent activities. Santiment reports that meme coins are trending following Trump's controversial Coinbase listing and significant interest in airdrops of 'TRUMP' tokens, which raised $1 million. MELANIA, another meme coin associated with Trump, briefly exceeded a $9 billion valuation but faced volatility. Dogecoin's increased social media mentions are attributed to the launch of the US Department of Government Efficiency (DOGE), which uses Dogecoin's logo. Mixed sentiments surround TRUMP and MELANIA tokens, with concerns over price fluctuations and investment risks. Dogecoin is currently trading at approximately $0.367, having confirmed a breakout from a descending trendline. The next resistance level is at $0.3943, with potential upward targets at $0.4759 and $0.5920. If it fails to break this resistance, support may be found at $0.3129. The Relative Strength Index indicates neutral momentum.
