Current market trend: Dogecoin price has initiated a new uptrend upon touching the 9-day moving average and reached the day’s high of 0.406 USD. Currently, Dogecoin is priced at 0.430 USD, with a market capitalization of about 58.77 billion USD and a total supply of 146.90 billion USD. This marks the 7th position on CoinMarketCap, indicating significant growth of DOGE in recent times.

DOGE/USD technical analysis: The DOGE/USD chart shows clear momentum change, with Dogecoin breaking past the previous short-term downward trend. The price holds steady at the main support level of 0.400 USD, allowing for subsequent price rallies. Recent candle patterns indicate strong buyer power, suggesting a forming uptrend.

Price outlook and forecast: The price prediction suggests that Dogecoin can continue to rise when it hits the peak of 0.406 USD. The 9-day moving average is on an upward trend and plays a dynamic support role. Surpassing resistance levels could propel DOGE to higher levels in the near future.

Impact from ICO and other factors: ICO Pepe Unchained has gained attention with over 41 million USD raised, showing enthusiasm in the crypto space not just for Dogecoin. The mix of meme coins with practical utility creates many promising investment opportunities.