Momentum Builds for BabyDoge, But Will the Rally Last?
- BabyDoge hovers near the $0.000000001281 mark.
- The meme coin has seen a 137% jump in 24-hour trading volume.
The crypto market opened the day with a 0.57% uptick. Major assets are riding a rollercoaster, fluctuating between gains and losses. The meme coin market cap remains at $49.2 billion. A dog-themed meme coin, Baby Doge Coin (BabyDoge), has surged by 3.45%.
The persistent bull power might keep the asset within the positive zone. BabyDoge has tested the daily high of $0.000000001402 from a bottom range of $0.000000001217.
At the time of writing, the meme coin trades at $0.000000001281, with its market cap at $209 million. In the meantime, the daily trading volume of the BabyDoge has reached $45.11 million.
Over the last seven days, BabyDoge has gained over 9.18%. The asset began trading the week at $0.000000001175, and the meme coin chose to trade on the downside, dropping toward $0.00000000112.
Is BabyDoge Gearing Up for a Rally?
BabyDoge reports a sturdy bullish sentiment, with the Moving Average Convergence Divergence (MACD) indicator crossing above the signal line. It suggests the possibility of an upcoming positive trend in the market.
BabyDoge chart (Source: TradingView )
The Chaikin Money Flow (CMF) line is settled at -0.17, hinting that the capital is flowing out of the asset. If it continues, bearish momentum is ahead. Meanwhile, the daily trading volume has soared by over 137%.
Notably, the four-hour price graph triggers the asset to breach the immediate resistance at $0.000000001311. Assuming the emergence of a golden cross, it might push BabyDoge to its crucial level at the $0.0000000014 mark.
If the upward trajectory fades, the bearish pressure of the asset could pull back the price toward $0.000000001206. A potent breakdown will initiate a sharp downward correction to its former low around the $0.0000000011 range.
Moreover, the daily frame of the asset exposes that the daily RSI is found at 100, indicating a correction or pullback. BabyDoge’s Bull Bear Power (BBP) value of 0.000000000069 reflects a little difference between bullish and bearish pressure.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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