Dogecoin forms a golden cross. How will its price continue?

The technical analysis of Dogecoin (Doge), the most valuable memecoin on the market, throws positive signals for its investors.

It is that the asset has just formed a golden cross, a technical analysis pattern that is interpreted as the confirmation of a bullish trend. It is worth clarifying that this occurs when the simple mobile average (SMA) of 50 days crosses above the 200 -day SMA.

If Doge manages to consolidate this trend, he could go looking The resistance in the area of 0.25 to 0.27 dollars. A break will be key for the asset to exceed the barrier of $ 0.30, a level not seen since February 2025.

In the following graph provided by TrainingView, the 50 -day SMA crossing (blue line) is observed above the 200 SMA, in addition to a lilac rectangle that represents the resistance zone.

As seen in the previous image, the last time a golden cross appeared in the Doge price occurred at the end of 2024, when the price reached a maximum of $ 0.45.

For Ali Martínez, financial market analyst, Doge is about to leave a bearish channel, which would give him enough impulse to look for $ 0.27.

In any case, it should be clarified that the golden cross is not an infallible indicator, so it will be necessary for Doge to have the necessary volume of trade, in addition to the fact that factors that can act as a catalyst of the price of the longest memecoin in the market appear.

One of these drivers could be the launch of a quoted background (ETF) background. As reported cryptootics, Grayscale, Bitwise and 21Shares are some of the companies that have submitted their respective applications before the United States Stock Exchange and Securities Commission (SEC).

Eric Balchunas and James Seyffart, analysts of Bloomberg Intelligence, consider that there is a 90% probability that these financial instruments are approved before October 17, the deadline that the SC has to make a decision.

A Doge ETF would facilitate the entry of institutional investors by giving direct exposure to a regulated product of dogewithout having to manage the cryptocurrency, which could increase its liquidity in the market. Although it does not ensure a sustained rise, past experiences show that similar releases have driven the value of other assets.

Another issue to highlight is that some companies (it is worth clarifying, very few) are accumulating Doge as a reserve asset. One of them is Bit Origin Ltd (BTOG), a company that quotes in Nasdaq, which on August 6 announced agreements to sell up to 400 million dollars in ordinary shares class A and 100 million in convertible debt.

Through this mechanism, the firm seeks to finance Doge’s treasury, without the need to depend on its operational income. The arrival of Memecoin to corporate balances will also give greater visibility among the most institutional investors, which could attract greater liquidity to its ecosystem.

From the investment that BTOG plans to give off another issue that can boost the price of Doge: Its integration in X Money, the social network payment platform X. And here there is a risky issue in this strategy, because the success of the strategy will depend on Elon Musk, CEO of X, decide to include memecoin.

That is, if the entrepreneur does not continue “pumpeating” Doge or does not give use to X Money, his price may not take off as in the 2021 upward cycle.

It should be clarified that Musk has expressed his support for Doge since 2019 after being symbolically appointed by the community of the dog Shiba Inu as the CEO.

Raoul Pal, former Goldman Sachs executive, said if Doge is included in X Money could reach a completely new level of adoption. “Imagine ties, purchases or pay without problems with doge in the world’s largest social network,” he said.

Anyway, it should be noted that, despite these catalysts, it will be essential that the macroeconomic context accompany. An event that could boost the price of Doge is the next meeting of the United States Federal Reserve (FED), which will be held in September.

The market plans that the agency that drives Jerome Powell will make a trim of interest rates of at least 25 basic points. At present, these are in the range of 4.25-4.50%.

This is important to take it into consideration because when the interest rate drops, the cost of indebtedness also decreases and there is more liquidity in the system. It is then that investors seek to amplify their profits and They place their holdings in risk assets, such as cryptocurrencies.

If the macroeconomic context becomes favorable, Doge could find the necessary impulse to exceed 0.30 dollars and move towards resistors at 0.50 and $ 0.60. However, the route could be long and complicated, since it is likely that many investors take profits along the way, limiting their progress.