Dogecoin is showing interesting movements. Last week, it rebounded from around $0.09, and in recent days, it rose to $0.117. That's a 21% increase. Trading volume is also incredible, surging by 191% to reach $2.87 billion.

What’s happening is that the entire cryptocurrency market is doing well. The CPI report results exceeded expectations, increasing hopes for interest rate cuts, leading to buying across risk assets like Bitcoin and XRP. Dogecoin is riding that wave. Looking at CoinMarketCap data, mentions on social media have increased by 33%, clearly indicating growing investor interest.

From a technical perspective, a golden cross has appeared on the 1-hour chart. The 50-period moving average has crossed above the 200-period moving average, suggesting a short-term upward trend. Since this signal coincides with the price rebound, the outlook for the near future is quite positive.

Currently, the resistance is at $0.117. If it breaks through this level, the next target is $0.122 (the daily 50 MA), and if the upward momentum continues, it could go as high as $0.16. Conversely, if support falls below $0.09, a correction down to $0.08 might occur. Open positions have increased by 25%, reaching $1.31 billion, indicating that more investors are preparing for further gains.