The price of Dogecoin (DOGE) experienced a strong 36% rally on April 13 and established a new all-time high at $0.0961. While the exact reason for the rally is unknown, the crypto market’s most popular meme coin now finds itself on the shortlist of cryptocurrencies being considered as a payment option in today’s post-pandemic business reopenings.
Data from Cointelegraph Markets and TradingView shows that DOGE rose 36% from a low of $0.07 in the early hours on April 13 to an intraday high of $0.0961 on $5.4 billion of trading volume.
DOGE/USDT 4-hour chart. Source: TradingView
Price growth for Dogecoin has become one of the biggest stories of 2021 as big-name influencers like Elon Musk, Snoop Dogg and Mark Cuban are proud members of the “Dogecoin Army,” as evidenced by a large number of DOGE-related tweets on their timelines.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for DOGE on April 11, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ Score (green) vs. DOGE price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for DOGE first began turning green on April 8 and then reached a high of 67 on April 10 around three hours before staging a brief 30% rally on April 11. Following that rally, the VORTECS™ Score began to rapidly rise on April 12 and reached a high of 87 on April 13 as DOGE began to rally another 40%.
Now that cryptocurrencies are receiving mainstream attention, with new signs of adoption showing up daily, projects like Dogecoin with large communities and celebrity endorsements are poised to see a fresh wave of interest as new users enter the space looking for the next big moonshot.
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Title: Dogecoin (DOGE) hits a new ATH as Bitcoin bulls try to flip $63K to support
Sourced From: cointelegraph.com/news/dogecoin-doge-hits-a-new-ath-as-bitcoin-bulls-try-to-flip-63k-to-support
Published Date: Tue, 13 Apr 2021 21:30:22 +0100