The cryptocurrency market saw modest gains on Wednesday as investors anticipated the Federal Reserve’s interest rate decision. The upcoming decision is expected to be released at 2:00 p.m. ET, and analysts will closely examine the Fed chair’s post-decision speech for clues regarding future interest rate hikes and the U.S. economy. While most cryptocurrencies were trading green ahead of the key Fed decision, Dogecoin saw a notable price increase.** Dogecoin (DOGE) surged by 3.94% in the last 24 hours to $0.1727. This price jump is accompanied by a slight rise in trading volume during this period. **As per CoinMarketCap data, Dogecoin has reached $766 million in trading volumes or 4.42 billion DOGE since press time – a 15% increase within the last 24 hours.** What’s next for Dogecoin’s price? The digital coin experienced a brief dip to $0.164 on May 6, following three consecutive days of decline starting from the weekend. This drop caused Dogecoin briefly to fall below its daily SMA 50 at $0.169, but has since consolidated above it since April 22. However, recent price gains have failed to trigger a significant rally. **While buyers have managed to keep Dogecoin above its daily moving average of 50, they haven’t initiated a major surge. The RSI is at the midpoint, suggesting continued trading in the $0.21 to $0.14 range for now. **If prices rise above the daily moving average of 50, bulls may push Dogecoin to $0.21. Sellers are expected to actively defend this level, but if the bulls succeed, DOGE could surge to $0.2644 – a level corresponding to the daily SMA 200. On the other hand, if the price falls below the daily moving average of 50, Dogecoin might drop significantly to its support level of $0.14.** This article was originally published on U.Today.