Dogecoin Zooms 5% Amid Broader Market RallyAnalyst Flags Level Where Risk-Reward Ratio Is ‘Absolutely Phenomenal’

Popular dog-themed cryptocurrency Dogecoin (CRYPTO: DOGE) rallied 5% Monday, aligning with the broader market’s upward movement.
What happened: The world’s largest meme coin by market capitalization beat blue-chip coins Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in 24-hour gains
The buying pressure was reflected in the 123% increase in trading volume to $1.5 billion.
Moreover, large transactions valued over $100,000 spiked 41% over the last 24 hours, while the daily active address count shot up by 34%, according to IntoTheBlock.
See Also: Bitcoin Arms Race: Peter Schiff Doubts Cynthia Lummis’ Theory That China Wants To Take On US — ‘Smart Enough To Have Sold’
The spike invited bullish predictions by noted cryptocurrency analysts.
Widely followed cryptocurrency market commentator Ali Martinez noted Dogecoin’s attempts at breaking out a triangle pattern, potentially leading to a 16% upside.
Full story available on Benzinga.com

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