Dogecoin has been catching traders' attention lately. I saw that the price has risen significantly, from $0.096 to $0.117, while trading volume exploded by 191%, reaching $2.87 billion. That’s no small feat.

What caught my eye the most was the technical pattern formed on the hourly chart — a golden cross, where the 50-period moving average crossed above the 200-period moving average. This is exactly the kind of signal traders watch when they want to identify a potential bullish trend. Additionally, open interest increased by 25%, reaching $1.31 billion, suggesting more people are trusting the move.

All of this comes after a favorable Consumer Price Index report that shook the entire market. The crowd is betting on possible rate cuts by the Federal Reserve, which has boosted not only Dogecoin but several other cryptocurrencies. The movement also marks three consecutive days of gains after that $0.09 bottom back in early February.

Now, the resistance is at $0.117. If the momentum continues, the next targets could be $0.122 and even $0.16. It’s worth keeping an eye on what happens from now on.