Meme cryptocurrency DogecoinDOGE/USD has been rallying strongly this weekend as sentiment toward cryptocurrencies improved. Along with it, DogwifhatWIF/USD also moved solidly higher.
Weekend Momentum: Dogecoin, which ended Friday’s session at $0.177518, surged on Saturday and closed at $0.185951, marking a gain of 4.75%. The upward trajectory continued on Sunday, propelling the meme coin above the $0.20 milestone for the first time since April 2.
Amidst the weekend frenzy, Dogecoin was trading up 11.37% at $0.202750, according to Benzinga Pro data.
Cryptocurrency analyst Ali Martinez predicted at the end of March that Dogecoin might be gearing up for a significant surge, drawing parallels with a chart pattern reminiscent of the 2018-2021 period.
Is a New Bull Run on the Horizon?
In light of Dogecoin’s remarkable performance over the weekend, crypto trader Yomi expressed optimism in a post on X by stating, “Don’t forget folks #Dogecoin is in a new bull market. Sit back, relax, and enjoy the show.”
After reaching a peak of $0.737567 on May 8, 2021, Dogecoin underwent a downward trend for about a year before stabilizing around the $0.10 level. The breakout above this range in late February marked the beginning of a broader uptrend.
Rising Star Dogwifhat: Solana-based dog-themed meme coin Dogwifhat, launched in November 2023, mirrored Dogecoin’s surge over the weekend, matching its gains. Currently, the crypto is up 9.52% at $3.6726.
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