Dogecoin’s Daily Chart Forms ‘Golden Cross’
Today is August 13th price Dogecoin (DOGE) rose another 5,3%, capping a two-day gain of 15% that took the meme cryptocurrency to its highest level in a month.
The latest surge came after DOGE formed what is known as a “golden cross,” a technical pattern that occurs when a security’s 50-day moving average rises above its 200-day average. The crossover occurred for the first time since November 2024, when the next four weeks Dogecoin grew by more than 130%.
During this period, large investors have been actively increasing their positions — in recent trading sessions crypto whales bought up over 1 billion DOGE tokens worth around $200 million. They now control nearly half of the circulating supply, suggesting continued institutional interest.
During trading on Tuesday, DOGE rose from $0,221 to a daily high of $0,238, before profit-taking sent it back to close at $0,233. The final hour of trading saw a 1,3% decline as some traders took advantage of the daily gains.
However, buying pressure on Wednesday helped DOGE break the psychologically important 25 cents level. Technical analysts believe that a golden cross formation could provide the momentum needed for further gains.
Price change Dogecoin in 24 hours. Data from CoinGecko
The Golden Cross has mixed reliability across markets, but DOGE has historically responded well to this signal. In addition to the November 2024 spike, this pattern preceded a four-week, 25% rally in late 2023. Most impressive was the four-month rally that saw Dogecoin soared by more than 1000%.
If buyers can hold above the 25 cents area, the next target is around 28 cents, near the local July highs where the token’s growth previously stopped.
Current trading volumes remain above the 24-hour average of 387,7 million tokens, indicating continued interest from both retail and institutional participants.
The 50 EMA crosses the 200 EMA from top to bottom, forming the well-known “golden cross” pattern. Source TradingView
At the moment, support looks stable at $0,232 and $0,220, resistance is at $0,238, where sellers have become active, limiting the daily growth.
