Dogecoin Price Surges 6% as Golden Cross Signals Bullish Momentum

Dogecoin (DOGE) is rebounding alongside the broader crypto market, gaining 6% in the past 24 hours to reach $0.166 as of early Saturday. The memecoin's latest upswing coincides with the formation of a "golden cross" on the hourly chart—a bullish technical pattern that occurs when a short-term moving average crosses above a long-term one. In this case, Dogecoin's 50-hour simple moving average (SMA) moved above the 200-hour SMA, signaling growing upward momentum.

While golden crosses on higher time frames like the daily or weekly charts carry more weight, the hourly pattern still suggests a potential short-term breakout, especially after weeks of sluggish price action. However, caution remains, as Dogecoin's daily chart still reflects a "death cross" from mid-March, when the 50-day SMA dipped below the 200-day SMA—typically a bearish indicator.

Dogecoin has since traded in a consolidation range between $0.129 and $0.205, with neither bulls nor bears taking full control. For a clear bullish breakout, DOGE must surpass key resistance levels at $0.181 and $0.257, while support remains at $0.142 and $0.129 in case of profit-taking.

The recent price move comes amid positive ecosystem developments. Dogecoin core contributors released Libdogecoin version 0.1.4, a C library aimed at simplifying DOGE integration across applications. Additionally, asset manager 21Shares launched a Dogecoin ETP in partnership with House of Doge, now trading on the SIX Swiss Exchange.

These bullish signals and ecosystem upgrades are reigniting investor interest in Dogecoin, potentially paving the way for a sustained rally if resistance levels are breached.