Dogecoin (DOGE) has displayed strong bullish momentum, climbing from $0.3778 to an intraday high of $0.4183. According to the Ichimoku Cloud indicator, DOGE may sustain this upward trend and potentially exceed $0.45.
While Elon Musk’s tweets about DOGE have previously driven price surges, the current rally appears to follow Bitcoin’s lead. On November 20, as Bitcoin reached a record high of $94,002, DOGE rose from $0.3778 to its daily peak of $0.4183. 
DOGE’s Intraday Performance
Currently trading at $0.3933, DOGE has increased by 3.2% in the past 24 hours. Daily trading volume has surged 22.20% to $11.47 billion, indicating growing trader interest. This rally began on November 6, coinciding with the U.S. election, when DOGE broke out of a prolonged bearish trend above $0.21922. Since then, Dogecoin has gained over 90%. Musk’s recent tweet referring to himself as “The Dogefather” further boosted enthusiasm.
Technical Indicators Signal Bullish Momentum
The Ichimoku Cloud highlights DOGE’s strong upward trajectory, with a conversion line at $0.38279 and a base line at $0.28465, both pointing to continued momentum. The upper boundary at $0.39124 suggests a potential breakout if prices remain above $0.38, while the lower boundary at $0.26983 provides a robust support zone.
Additional indicators also support a bullish outlook. On the DOGE/USDT 4-hour chart, the RSI at 55 shows room for further growth without entering overbought territory. The MACD has turned positive, with the MACD line crossing above the signal line, signaling increased short-term momentum.
Key resistance levels for DOGE are $0.41, $0.42, and $0.45. However, if DOGE drops below the conversion line at $0.38279, the bullish momentum could falter, with support at $0.28465. If the rally continues, Dogecoin may be positioned for even greater gains in the near future.
