Dogecoin (DOGE) Hits a 6-Day High of $0.147, But TD Sequential Indicator Signals a Sell Alert

Dogecoin (DOGE) has experienced a notable surge over the past six days, hitting a peak of $0.147 during Saturday's trading session.

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Cryptocurrency traders and investors may want to proceed with caution when it comes to Dogecoin (CRYPTO: DOGE) as a sell signal has appeared on the apex meme coin’s chart.

What Happened: A sell alert has been signaled by the TD Sequential indicator on Dogecoin’s daily chart, according to crypto analyst Ali.

The TD Sequential indicator is used to identify possible trend exhaustion and price reversals.

The sell alert suggests a brief correction may occur before DOGE possibly continues its upward trend.

This comes as Dogecoin has seen a surge in price, fueled by renewed speculative trading and growing interest.

Santiment data highlights a significant increase in discussions around meme coins this week.

“Meme coin discussion is surging as traders are engaging in high-leverage speculative trades on meme coins like Dogecoin and Shiba Inu, pushing these discussions to their highest levels since May,” according to Santiment.

“This activity is largely driven by the approaching Bitcoin price of $70,000, which is known to amplify speculative trading activity in the cryptocurrency market.”

The heightened social activity is mirrored in the performance of DOGE, which is up 31.18% over the past seven days.

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