Momentum Builds for BabyDoge, But Will the Rally Last?

• BabyDoge hovers near the $0.000000001281 mark.
• The meme coin has seen a 137% jump in 24-hour trading volume.

The crypto market opened the day with a 0.57% uptick. Major assets are riding a rollercoaster, fluctuating between gains and losses. The meme coin market cap remains at $49.2 billion. A dog-themed meme coin, Baby Doge Coin (BabyDoge), has surged by 3.45%.

The persistent bull power might keep the asset within the positive zone. BabyDoge has tested the daily high of $0.000000001402 from a bottom range of $0.000000001217.

At the time of writing, the meme coin trades at $0.000000001281, with its market cap at $209 million. In the meantime, the daily trading volume of the BabyDoge has reached $45.11 million

Over the last seven days, BabyDoge has gained over 9.18%. The asset began trading the week at $0.000000001175, and the meme coin chose to trade on the downside, dropping toward $0.00000000112

Is BabyDoge Gearing Up for a Rally?

BabyDoge reports a sturdy bullish sentiment, with the Moving Average Convergence Divergence (MACD) indicator crossing above the signal line. It suggests the possibility of an upcoming positive trend in the market

*BabyDoge chart (Source: TradingView)*The Chaikin Money Flow (CMF) line is settled at -0.17, hinting that the capital is flowing out of the asset. If it continues, bearish momentum is ahead. Meanwhile, the daily trading volume has soared by over 137%

Notably, the four-hour price graph triggers the asset to breach the immediate resistance at $0.000000001311. Assuming the emergence of a golden cross, it might push BabyDoge to its crucial level at the $0.0000000014 mark

If the upward trajectory fades, the bearish pressure of the asset could pull back the price toward $0.000000001206. A potent breakdown will initiate a sharp downward correction to its former low around the $0.0000000011 range

Moreover, the daily frame of the asset exposes that the daily RSI is found at 100, indicating a correction or pullback. BabyDoge’s Bull Bear Power (BBP) value of 0.000000000069 reflects a little difference between bullish and bearish pressure.

Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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