• Dogecoin (DOGE) has dropped by 4.5% in the past 24 hours, but has risen 8.5% in the last 30 days, with its trading volume now nearing $1 billion.
• Technical analysis suggests that DOGE may soon witness a recovery rally, as its 30-day moving average has recently crossed above its 200-day moving average.
• A potential upcoming rally could depend upon Twitter introducing cryptocurrency payments, including Dogecoin payments, which the Dogecoin community is hoping for.

Dogecoin Price Drop

Dogecoin (DOGE) has dived by 4.5% in the past 24 hours, dropping to $0.079495 amid a 1% fall for the wider cryptocurrency market. At $0.079495, DOGE has fallen by 9% in the past week but is up by 8.5% in the last 30 days, with the meme token’s 24-hour trading volume rising close to $1 billion, after having been under $400 million only a couple of days ago.

Potential Recovery Rally

Such an increase in volume suggests that DOGE’s volatility may be on the up, potentially signaling an incoming recovery in its price. Most promisingly, its 30-day moving average (yellow) has recently risen above its 200-day average (blue), forming a ‘golden cross’ that in many cases signals an incoming breakout rally.At the same time, DOGE’s relative strength index (purple) is rising modestly towards 50, after a dive close to 40 earlier in the week – indicating that it may not be too far away from a recovery of sorts.

Twitter and Elon Musk

The Dogecoin community is still holding out for Twitter to introduce DOGE payments in some form and have long hoped that Twitter owner Elon Musk would ensure this happens at some point. Recent pieces of news have supported this belief; including Twitter partnering with crypto payment processor BitPay and Musk tweeting about cryptocurrency earlier this month – both suggesting some involvement from him regarding Dogecoin payments on Twitter may be imminent soon enough..

Whale Signals

Whales are sending mixed signals with regard to whether such a rally will arrive soon or not; with some sending DOGE to exchanges and some sending it off exchanges – making it difficult to predict exactly when any potential upcoming rally might come..

Conclusion

Regardless of when exactly any potential upcoming rallies come though one thing remains certain: given how undervalued DOGE currently is one should definitely be due soon enough – largely depending upon what happens next between Twitter and Elon Musk regarding Dogecoin payment support on their platform