Dogecoin has seen major bullish retest amid market recovery
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Dogecoin is looking to retest some of its lost valuation. Over the past month, the coin traded as high as $0.1431, and the The efforts appear to be paying off now, considering the price of Bitcoin is in rebound mode and might retest $70,000 soon. Dogecoin is maintaining a bullish correlation with Bitcoin, helping to drive the price upward. However, the twist lies in the trading volume, which is not moving in a commensurate manner.
As of writing time, data from CoinMarketCap pegs the DOGE volume at $829,328,876, down by more than 32%. With this bearish twist, core traders of the digital currency might still be cautious about trading it, considering volatility could switch sides easily.Despite the low trading volume, individual bets on Dogecoin are growing per earlier reports from U.Today. Recently, more than $1.
Overall, Dogecoin has what it takes to retest not just its monthly high but the $0.2 target in the near future.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.
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