Dogecoin Flashes Bullish Signal as Golden Cross Sparks July Price Surge

• Dogecoin forms a golden cross, signaling a potential breakout this July.
• Hourly chart crossover ignites over 9% price jump in Dogecoin’s latest rally.
• Traders shift focus to Dogecoin as bullish momentum builds in early July.

Dogecoin has caught the attention of traders after forming a golden cross on its hourly chart. The bullish crossover has triggered a wave of optimism about the coin’s short-term prospects in July.

The golden cross emerged as Dogecoin’s 50-hour moving average moved above the 200-hour moving average. Traders widely see this technical pattern as a signal that upward momentum could follow. It comes as Dogecoin surged over 9 percent in the past 24 hours, pushing its price to $0.1749.

According to data from CoinMarketCap, the meme coin is now the ninth-largest cryptocurrency by market capitalization. Its strong intraday performance placed it ahead of other major altcoins in the current rebound.

The golden cross arrives as the broader crypto market experiences renewed momentum. Bitcoin recently touched a three-week high, lifting sentiment across digital assets. Analysts point to improved macroeconomic conditions as a driving factor behind the surge.

Investor confidence strengthened after recent dovish comments from U.S. Federal Reserve officials. Hopes for an interest rate cut have risen, adding fuel to risk assets like cryptocurrencies.

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Golden Cross Boosts Dogecoin’s July Outlook

So far this month, Dogecoin has recorded a 5.53 percent gain. This early performance contrasts with July 2024, when the coin declined by 1.99 percent. In July 2023, Dogecoin posted a much stronger gain of 17.19 percent.

Historical data shows Dogecoin has closed two of the last four Julys with gains. As July continues, one will pay attention to the possibility of the current technical break generating sustainable price appreciation.

Trade hastened remarkably after the golden cross emerged on the hourly chart. The strength in volume and price action indicates new interest in the market from retail traders and near-term speculators.

Dogecoin has also benefited as others in the meme coin category go up; all meme coins tend to flow in sentiment-driven mechanisms. The crossover event provides a technical boost to the bullish thesis that is building on the asset.

With the golden cross acting as a bullish signal, Dogecoin has entered July with growing strength. If momentum holds, the meme coin could continue to outperform in the near term.

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