KEY POINTS
- Six new Ethereum whales recently purchased a 640 DOGE
- DOGE made it to the list of top 10 coins by 1-week market capitalization
- DOGE was trading down 2.44% at $0.06159
Dogecoin, the dog-themed altcoin created as a joke, showed off over the weekend with a price rally that soared to a one-month high while the overall crypto market saw a marginal rebound.
DOGE was among the biggest movers in the crypto market over the weekend after it soared to a one-month high price Saturday. The meme coin saw a $0.05974 low Friday but spiked to a peak of $0.06797 at the start of the weekend.
The surge allowed DOGE to surpass the key resistance level of $0.06540, achieving the highest point of trading since Aug. 26. Interestingly, several indicators point out that the meme coin could see a price surge very soon.
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Before the impressive surge Saturday, DOGE made it to LunarCrash’s top 10 coins list by one-week AltRank, sitting on the fourth spot. This positive development suggests that Dogecoin is again gaining prominence in the crypto market.
Moreover, the dog-themed meme coin also ranked third in the Social dominance in the Binance blockchain, as per social and market activity tracker LunarCrash. DOGE also made it to the list of top 10 coins by 1-week market capitalization and sat in the tenth spot.
Interestingly, while DOGE is seemingly making a comeback, financial market data and content platform Santiment noted that it could be a candidate for a breakout. While DOGE, along with BNB, BTC and LINK, saw high levels of Fear, Uncertainty, Doubt (FUD), there is a high possibility it could see a price breakout.
“The majority of #crypto assets are seeing major negativity from the trading community right now. But keep your eye on $BTC, $BNB, $DOGE, and $LINK. These top caps are showing particularly high levels of #FUD that can lead to eventual breakouts,” a tweet read.
Aside from those, six new Ethereum whales recently purchased a 640 DOGE. There was also a 5.13% increase in addresses (whales) holding between 100 million and one billion DOGE.
DOGE was trading down 2.44% at $0.06159 with a 24-hour volume of $375,066,170 as of 11:43 a.m. ET Sunday, according to the latest data from CoinMarketCap.
