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Benzinga
Benzinga
Business
Melanie Schaffer

Here's Why Dogecoin Is Spiking Higher

Dogecoin Crypto Bitcoin Ethereum

Dogecoin (CRYPTO: DOGE) was spiking up over 3% higher at one point on Saturday, showing strength in comparison to Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were trading flat.

On Friday, Benzinga pointed out a bounce was likely to come because at that time Dogecoin was printing a hammer candlestick on the daily chart. While Dogecoin didn’t close the 24-hour trading session with a hammer candlestick, the crypto ended up printing a long-legged doji candlestick, which is also a bullish reversal indicator.

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