A Green Week Needed for Bullish Momentum
Cryptocurrency influencer Yomi recently shared his thoughts on the anticipated Golden Cross for Dogecoin (DOGE/USD), emphasizing the importance of a green week to regain momentum. Despite two consecutive red weeks causing a slight deviation, Yomi believes DOGE is still several weeks away from achieving this bullish milestone.
Yomi's tweet comes amidst Dogecoin's recent resurgence. The meme coin, which gained popularity during the 2020 and 2021 bull market, has made a strong comeback in 2024. Despite a significant price drop from its all-time high, Dogecoin is up over 77% year-to-date.
This bullish sentiment surrounding Dogecoin is further fueled by its recent market cap surge, surpassing both Pinterest and DraftKings. Traders are also eagerly anticipating DOGE Day on April 20th, an annual event celebrating the 18th birthday of Kabosu and the unveiling of the Bronze Dog, which is expected to kickstart another meme coin season.
One trader aptly stated, "the fun doesn't begin until $0.25," highlighting the high expectations for Dogecoin's performance in the coming weeks. Yomi's analysis of the pending Golden Cross provides valuable insight into the potential trajectory of this popular cryptocurrency.
At the time of writing, Dogecoin was trading 6.75% higher at $0.16, according to data from Benzinga Pro.