Dogecoin Approaches Macro Golden Cross Amid Price Drop

Dogecoin is nearing a significant technical event known as a macro golden cross, which occurs when the 50-day moving average crosses above the 200-day moving average. This event is rare, happening approximately once every four years, and is typically seen as a bullish indicator for the asset. Despite this potential for upward movement, Dogecoin has experienced a decline in both trading volume and price, with a 7% drop over the week and a 6% drop over the month. Crypto trader Kevin has suggested that Dogecoin's next major price increase could coincide with this golden cross, predicting a rally within the next two weeks based on historical liquidity cycles in the cryptocurrency market. He emphasizes that the current setup is highly bullish, as Dogecoin is positioned above a key support level known as the macro golden pocket. Recent data indicates a decrease in trader interest, with Dogecoin's trading volume falling behind that of other meme coins like Pepe and Shiba Inu. Additionally, there has been a 5% drop in large transaction volume and a 6% decline in daily active addresses, suggesting a waning interest among traders. The Dogecoin Foundation has reported progress in its development initiatives, claiming that the accessibility of development and the growth of its developer ecosystem are nearly complete. However, the foundation's efforts to lower barriers for business adoption are still in the early stages, indicating ongoing work ahead for the community.