Dogecoin’s “Golden Cross”: Is It a Sign of Glory or Just Another Bark?

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Ah, Dogecoin! That whimsical, dog-themed cryptocurrency that seems to have a knack for surprising us all. Early on this fine Saturday, it found itself galloping ahead, up a modest 6% in the last 24 hours to a delightful $0.166. Yes, you read that correctly. A glorious rebound, of sorts, after a sluggish Friday.

And what’s this? A “golden cross” on the hourly chart? How fancy! For the uninitiated, a golden cross is what happens when the short-term moving average takes a leap over the long-term one, and voila! It’s a sign, a glorious sign, that upward momentum might be on the horizon. In Dogecoin’s case, this momentous crossover occurred on the hourly chart, with the 50-hour SMA just brushing past the 200-hour SMA like an ambitious young pup overtaking the old guard.

Now, don’t get too excited. Sure, golden crosses on longer timeframes, like daily or weekly, are usually the ones that hold weight. But, let’s not underestimate the little hourly chart that could. After all, Dogecoin has been lounging in a rather uninspired price range for some time. It’s almost as if it’s been taking a nap—don’t we all need one after a wild week?

Will Momentum Hold?

Ah, but here’s the catch: While the hourly chart is wagging its tail with excitement, the daily chart is showing a more hesitant expression, like a dog contemplating whether to chase a squirrel. A death cross—a true harbinger of doom in the crypto world—made its appearance back in mid-March, when the 50-day moving average decided it was time to fall below the 200-day moving average. As you might imagine, that’s generally interpreted as a sign to hide under the bed.

Since that ominous crossover, Dogecoin has been prancing around in a range between $0.129 and $0.205. It’s like a dog undecided between chasing a stick or just lying on the porch. Not quite bullish, not quite bearish—just… indifferent, really. Typical market behavior, if you ask me.

But don’t despair, dear crypto enthusiasts! There’s still hope. In the coming days, eyes will be on Dogecoin to see if it can muster the courage for a decisive move. If it does, resistance awaits at $0.181 and $0.257, courtesy of the daily SMAs. Break through those levels, and who knows? A fresh uptrend might just begin, like a dog discovering a new favorite chew toy. On the flip side, if the market decides to take a nap, support is expected around $0.142 and $0.129. After all, even Dogecoin needs a cushion for those inevitable profit-taking moments.

And there’s more news! Dogecoin is stepping up its game with the release of Libdogecoin version 0.1.4—a C library designed to make integrating Dogecoin into various applications easier. Talk about going for a run! Oh, and did I mention? 21Shares, in partnership with House of Doge, has launched a Dogecoin ETP on the SIX Swiss Exchange. Yes, Dogecoin is now officially making moves in the big leagues. 🐕💼

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2025-04-12 18:39