fxstreet.com 09 Feb, 2021 12:00 am

DOGE primed for a 30% rally to new highs

Dogecoin price slid into consolidation after a 1,100% rally between January 28 and 29. But a recent spike in buying pressure allowed DOGE to resume it

Dogecoin's realized market capitalization also spells trouble after experiencing a 550% increase in the last few  weeks.Realized market capitalization is a metric that considers the price at which the coin was last moved, which paints an accurate picture of the network's participants.Doge Realized Market Capitalization chart Therefore, a spike in selling pressure leading to a breakdown of the support at $0.Dogecoin price slid into consolidation after a 1,100% rally between January 28 and 29.

The technical formation forecasts a 90% target, that could see Dogecoin price climb another 30% to reach a new all-time high of $0.Dogecoin IOMAP chart In such a case, Dogecoin price could drop to the next stable support at the $0.

Read full story at fxstreet.com