Dogecoin, the flagship coin, has a major challenge ahead of it. According to business analyst Rekt Capital, cryptocurrency is on the right track to reclaim the $0.20 level as new support.
This, as the analyst predicts, could pave the way for a further rise. The meme coin could potentially reach $0.30, according to the analyst.
At press time, the flagship cryptocurrency is changing hands at $0.215. It jumped almost 7% in the last 24 hours. The meme coin is currently valued at $30 billion.
With just hours before the crucial monthly close, it remains to be seen whether Dogecoin will manage to stay above this decisive level.
Meanwhile, Bitcoin price is poised to close this weekly candle above its all-time high.
If Bitcoin manages to achieve this, it would be also positioning the flagship cryptocurrency for a breakthrough.
As of press time, Bitcoin is changing hands at $70,561, according to CoinGecko data.