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Cryptocurrency social media personality, Yomi, recently shared his insights on the anticipated Golden Cross of Dogecoin DOGE/USD , highlighting the need for a green week to get back on track.
What Happened: On Sunday, Yomi tweeted an update on the pending weekly Golden Cross of DOGE. He noted that despite two consecutive red weeks causing a slight deviation, the cryptocurrency is still several weeks of upward price action away from achieving this bull market milestone. Yomi emphasized the need for a green week to regain momentum.
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Yomis tweet comes in the context of Dogecoins recent performance. The cryptocurrency, which gained traction on social media during the 2020 and 2021 bull market, has made a strong comeback in 2024. Despite a significant price drop from its all-time high of nearly $0.75, Dogecoin is up over 77% year-to-date.
Why It Matters: Yomis tweet is particularly relevant given the current bullish sentiment surrounding Dogecoin. The cryptocurrency recently overtook Pinterest and DraftKings in market cap, and traders are eagerly anticipating DOGE Day on April 20. This annual event, which celebrates the 18th birthday of Kabosu and the unveiling of the Bronze Dog, is expected to kickstart another meme coin season.
As one trader noted, the fun doesnt begin until $0.25, indicating the high expectations for Dogecoins performance in the coming weeks. Yomis analysis of the pending Golden Cross provides valuable insight into the potential trajectory of this popular cryptocurrency.
Price Actions: Dogecoin traded 6.75% higher at $0.16 at the time of writing, according to data from Benzinga Pro.
Read Next: Iran Launches Drone Attack On Israel In Escalation Of Tensions, Bitcoin Drops Sharply In ResponseEngineered by Benzinga Neuro , Edited by Shivdeep Dhaliwal
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