hello everyone. before moving on to the video we ask you to support us and subscribe to our channel, please. The best performing meme cryptocurrency, Dogecoin, has surged again in the past 24 hours touching $0.084 and potentially forming a double top in the short-term. It seems that the digital asset is poised for a short-term correction before another potential leg up.
On the 1-hour and 4-hour charts, the TD Sequential indicator has just presented two sell signals which add a lot of credence to the bears. Additionally, Dogecoin price has topped out at around $0.084 again which is a critical resistance barrier.
On the 4-hour chart, DOGE got rejected several times in the past 24 hours from the resistance level at $0.084 and can easily dive towards $0.
06 which is the 26-EMA support level. The social volume of Dogecoin is spiking again which is usually a good indicator of upcoming corrections.
This adds even more credence to the bearish outlook. However, since Tesla announced the purchase of $1.5 billion worth of Bitcoin and potentially other digital assets in the future, DOGE bulls have a lot of momentum.
Climbing above the resistance level at $0.084 would be a massive breakout from an ascending triangle on the 4-hour chart with a price target of $0.147.
Read More: Dogecoin price towards 0.08 dollar