Dogecoin was one of the standout gainers during a quiet session, as the meme coin raced to a multi-month high. Prices rose as traders continued to react to a recent tweet from Elon Musk. Another notable gainer was polkadot, which rose nearly 7% higher.
Dogecoin (DOGE)
Dogecoin (DOGE) was a notable mover during Friday’s session, as the meme coin climbed to a multi-month high. This occurred as price continued its reaction to a recent Elon Musk tweet.
Following a low of $0.06855 on Thursday, DOGE/USD surged to an intraday peak of $0.07639 earlier today.
This resulted in dogecoin hitting its strongest point since May 6, when its price peaked above $0.0800.
One of the catalysts behind today’s move was a breakout of the 62.00 level on the relative strength index (RSI).
At the time of writing, the index is now at 64.24, with an upcoming resistance point of 66.00 a possible target for buyers.
Earlier momentum has marginally faded, with DOGE now trading at $0.074.
Polkadot (DOT)
Additionally, polkadot (DOT) also rallied to end the week, as the token rose by as much as 7% in today’s session.
DOT/USD jumped to a high of $5.69 on Friday, which was a day after the price fell to a bottom at $5.15.
As a result of this rally, polkadot peaked at its highest level since last Friday, when it reached a then two-month high of $5.74.
The token edged lower after bulls were unable to extend gains towards a key resistance level of $6.00.
Overall, this appeared to come as price strength failed to surge past its own ceiling at the 60.00 mark.
At the time of writing, the indicator is now closing in on this point, and in the event it breaks beyond this zone, DOT will likely climb past the $6.00 mark.
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Do you expect polkadot to hit $6.00 this weekend? Let us know your thoughts in the comments.
