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Dogecoin Bounces Back With A 16% Surge, Coin Set For More Gains

18 december 2018, 16:25 by John Kiguru

Dogecoin Bounces Back With A 16% Surge, Coin Set For More Gains

The market has been under bullish pressure for a couple of days now and finally, it is paying off. After initially soaring yesterday and seeing coins record marginal gains, today, these coins have extended their gains dramatically. For bitcoin, yesterday’s gains saw the mother of cryptos climb above $3,400 and today's gains have seen the coin extend its gains to over $3,500. Ethereum, which was under $85 over the weekend has found a position just above $93 and XRP is going for a little over $0.32.

The boost has seen the total market cap climb above $110 billion and at the time of press stands at $112,604,798,989

As we reported, Dogecoin was set to gain from a wider market surge, and true enough, today's surge has seen the coin record one of the best gains in recent weeks. At the time of press, Dogecoin is up by 16% and is going for a little over $0.0024. In the top 20 cryptocurrencies, this massive gain is only second to EOS which is up by 21%.

In the next couple of hours, we could see Dogecoin breach the $0.0025 position, a key resistance level for the coin. In the last 24 hours, the coin has tested this position but was unable to break past it. If it achieves this in the coming hours, this could launch it and it could hit as high as $0.0027.

For the last couple of weeks, Dogecoin was stuck below $0.0023, a position that was hurting it with investors growing weary. This surge will definitely boost its position and bring back confidence in the coin and we could see Dogecoin get back to the highs of $0.0050, a position it was taking just a few months ago.

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