Dogecoin (DOGE) became the most profitable asset on the market with a 13% increase. The Ecoinomic

Dogecoin's latest performance was a pleasant surprise for investors, as the coin successfully surpassed the resistance levels U.Today mentioned earlier. Currently, DOGE is on track to break down stronger barriers.

At the time of this article, DOGE is approaching the 50-day Exponential Moving Average (EMA Line) and shows the potential to overtake it as trading volumes spike on the first day of the trading week.

Dogecoin (DOGE) became the most profitable asset on the market with a 13% increase. — Dogecoin (DOGE) became the most profitable asset in the market with a 13%

increase The main reason behind such a sharp rise in cryptocurrencies such as Dogecoin and Shiba Inu is that investors want to be exposed to the riskiest options in the cryptocurrency market instead of pursuing "stable" assets such as Ethereum, They are still under great institutional pressure.

Over the past 9 days, Dogecoin has gained nearly 50% in value, making it the second most profitable asset in thecryptocurrency market's top 100 after STEPN's 100% weekly growth.

Can dogecoin's recovery continue?

Unfortunately, the only indicator that can give us hints about the remaining potential of this recovery is the gradual decline in profit volume, indicating that the recovery is diminishing. According to the indicator, we could see a reversal in the coming days or weeks if new funds do not pour into the assets.

Other trend indicators such as the Relative Strength Index show that DOGE has entered a short-term uptrend and has not yet faced any selling pressure if the price rises. On the time frame of the day's chart, memecoin has crossed all resistance on the chart and is currently facing the 50-day EMA resistance that was once touched in May.