April 7, 2024 11:47 AM | 2 min read
Meme cryptocurrency Dogecoin (DOGE) has seen a strong rally this weekend, along with Dogwifhat (WIF), another dog-themed meme coin based on the Solana blockchain.
What Happened: After ending Friday’s session at $0.177518, DOGE experienced a surge in value and reached $0.185951 on Saturday, marking a 4.75% increase. The momentum continued on Sunday, propelling the coin above the $0.20 mark for the first time since April 2.
At the time of writing, DOGE is trading at $0.202750, up 11.37% from its previous close, according to Benzinga Pro data.
Back in March, crypto analyst Ali Martinez predicted a potential rally for DOGE based on technical analysis, similar to the one observed between 2018 and 2021.
Following DOGE’s weekend surge, crypto trader Yomi declared on Saturday that “Dogecoin is in a new bull market,” encouraging investors to sit back and enjoy the show.
Meanwhile, DOGE’s counterpart, Dogwifhat, launched in November 2023 and based on the Solana blockchain, also experienced a significant rally over the weekend, matching DOGE’s gains. The coin is currently trading at $3.6726, up 9.52% from its previous close.
After reaching its all-time high of $0.737567 on May 8, 2021, DOGE entered a downtrend for about a year before consolidating around the $0.10 mark. However, the coin broke out of this range in late February and has been on an upward trend since then.
Newbie Dogwifhat On Tear: In addition to DOGE, the Solana-based meme coin Dogwifhat also saw a strong rally over the weekend, matching DOGE’s gains. At the time of writing, the coin is trading at $3.6726, up 9.52% from its previous close.
Disclaimer: This is not investment advice. All rights reserved.
Photo: Shutterstock
© 2024 Benzinga.com. All rights reserved.
