Dogecoin price is on the move once again as the Bitcoin price broke above $38,000 on Tuesday. Consequently, the memecoin was up 2.5% as the crypto markets looked poised to set new yearly highs fueled by all sorts of positive news.
According to the latest reports, the crypto exchange-traded products (ETP) have experienced $350 million of institutional inflows in the last week. While most of the capital was poured into Bitcoin and Ethereum, it still contributed to an overall bullish outlook for the whole market, including DOGE.
At the time of writing, DOGE price was trading just above 8 cents as the memecoins experienced a major increase in volume. However, the $0.084 resistance still needs to be broken if bulls want to target higher price targets in the coming days.
However, the latest technical analysis gives a very bullish Dogecoin price prediction. You can see that the price is has confirmed the breakout from the falling wedge pattern. This breakout may lead to price targets as high as $0.11, but a lot depends on the BTC’s ability to find strength above $38,000.
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