Dogecoin, the popular meme-inspired cryptocurrency, has been making headlines once again as its price surges by 10% in a single day. This recent spike has caught the attention of many investors and crypto enthusiasts, with some predicting that Dogecoin could soon reach new all-time highs.

At the time of writing, Dogecoin is trading at $0.35, up from its previous day’s close of $0.32. This increase in price can be attributed to a classic technical setup that suggests a potential bullish trend for the cryptocurrency. The chart for Dogecoin shows a clear cup and handle pattern, a bullish continuation pattern that indicates a potential breakout to new highs.

For those unfamiliar with technical analysis, a cup and handle pattern is formed when the price of an asset reaches a high, then pulls back before forming a “cup” shape, followed by a smaller pullback forming a “handle.” This pattern is often seen as a bullish signal, as it indicates that the asset is gaining momentum and could soon break out to new highs.

If Dogecoin does indeed follow this pattern, we could see the cryptocurrency reach new all-time highs in the coming days or weeks. This would be a significant milestone for Dogecoin, which has already seen a massive surge in popularity and value this year.

Despite its origins as a joke, Dogecoin has proven to be a resilient and popular cryptocurrency, with a strong and dedicated community backing it. Its recent surge in price can also be attributed to the growing acceptance and adoption of cryptocurrencies in mainstream finance.

In conclusion, Dogecoin’s recent price increase and technical setup suggest that the cryptocurrency could soon reach new all-time highs. Whether you’re a fan of the meme-inspired coin or a skeptic, it’s hard to deny the potential and excitement surrounding Dogecoin’s future. Keep an eye on this cryptocurrency as it continues to make waves in the world of finance.