KEY POINTS

  • Dogecoin blew up the symmetrical triangle and surpassed the resistance level at $0.073
  • Devs are optimistic that bigger developments are in the cards
  • DOGE was trading up 2.11% at $0.07854

To say the weekend was a blast for DOGE hodlers is an understatement as Dogecoin surged almost 20% from $0.07008 last Friday to $0.08352 Sunday. The price uptrend aided the meme coin to get past a crucial resistance area, suggesting that it now has the potential to move upward.

Dogecoin blew up the symmetrical triangle and surpassed the resistance level at $0.073, which is a critical development in the meme coin's price action. Should the 34% projection of its Y-axis technical formation get validated, DOGE could climb to $0.095 or even $0.10 price.

Representation of cryptocurrency Dogecoin is seen in this illustration taken November 29, 2021.
Representation of cryptocurrency Dogecoin is seen in this illustration taken November 29, 2021. Reuters / DADO RUVIC

This impressive price movement puts DOGE back in the top ten list of crypto assets by CoinMarketCap. But, to confirm its optimistic outlook, the meme coin must trade above the $0.068 price since breaking down below this price could mean a selloff.

In addition to the price performance of DOGE, core developers of Dogecoin Foundation, particularly its director Timothy Swebbing, is optimistic that bigger developments are in the cards. "Shafil Alam demonstrates the power of libdogecoin to bring #dogecoindev to new realms: having now compiled for iOS & Android (for @FlutterDev). We have @chromatic_x with Perl, @inevitable360 with php, Jaxalotl with Python," he tweeted, adding, "so many ways to build new doge apps brewing."

A week ago, Michi Lumin, a core developer of the Dogecoin Foundation, shared the initial release of Libdogecoin. Unknown to many, Libdogecoin is a c library of DOGE building blocks that allows direct integration of the meme coin into a wide range of platforms without the need for devs to have deep blockchain know-how.

As of 2:09 a.m. ET on Monday, DOGE was trading up 2.11% at $0.07854with a 24-hour volume of $1,501,054,629 based on the latest data from CoinMarketCap.