Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies of 2021, thanks to the involvement of high-profile figures like Elon Musk and Mark Cuban. Its value skyrocketed earlier this year, but has since retreated.
As investors and traders keep a close eye on its movements, the next potential catalyst for Dogecoin could be a decisive breakout on higher-than-average trading volume.
Let’s examine the current state of Dogecoin, what traders are looking for in terms of a breakout, and what the future may hold for this popular meme coin.
Dogecoin (DOGE) Recent Performance And Price Action
On Wednesday, Dogecoin’s downtrend was confirmed as the cryptocurrency hit a lower high of $0.074 and formed a lower low at the 7-cent mark on Monday. As of Friday’s 24-hour trading session, Dogecoin was attempting to print an inside bar pattern, indicating a potential bearish trend.
Traders should monitor the crypto’s movement and volume to assess its future direction, especially
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