Memecoin Jumps 8% in Price

Memecoin Jumps 8% in Price, Surpassing Most Cryptocurrencies

– The recent 8% rally in Dogecoin was unexpected, considering the issues the memecoin had with moving toward upper resistance levels.

– The breakout above the 50-day moving average is an important sign for the market, since memecoin rallies usually herald an upcoming inflow season to the market in general.

– If we compare the historical performance of memecoins with more fundamental cryptocurrencies, inflows to the latter come with a slight delay compared to memecoins.

– As for now, we are seeing a similar tendency when large caps “lag behind” compared to Dogecoin or even Shiba Inu.

– The trading volume and market flow suggest that both Ethereum and Bitcoin are seeing a slight relief after the recent sell-off.

– In order to stay in the ascending price range, Dogecoin would need to gain a foothold above the 50-day moving average.

23986 Memecoin Jumps 8% in Price, Surpassing Most Cryptocurrencies

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