The Dogecoin price has increased by 5% in the past 24 hours, reaching $0.1651, as the overall cryptocurrency market also rose by 5%. Despite this recent gain, Dogecoin remains down by 20% in the last week and up only 2% in the last 30 days. However, its trading volume has exceeded $3 billion in recent days, indicating increased interest from traders looking to buy the token at a discounted price. With the market showing signs of rallying again after a weekend dip, there is potential for further gains for DOGE in the near future. Some analysts are predicting that the price of Dogecoin could eventually reach $10 if current trends continue.
The chart for DOGE suggests that the coin hit a bottom over the weekend and that the current recovery could continue for at least a few more days. The coin’s 30-day average has started to rise, while the relative strength index has also increased to 60, indicating renewed buying pressure and the potential for further price increases. Dogecoin’s trading volume has shown a strong recovery, although it has not yet reached the levels seen in early March when it surpassed $8 billion. Whales in the market seem to anticipate a price increase for DOGE, with at least one whale recently moving a significant amount of the token to an exchange.
It is uncertain how much DOGE could rise in the near future, as analysts are divided on whether the upcoming Bitcoin halving on April 20 will have a bullish effect or be a sell-the-news event. If a more bullish environment does materialize, Dogecoin could benefit along with other cryptocurrencies. Despite lacking strong fundamental factors to drive its price on its own, Dogecoin may see temporary rallies if Elon Musk mentions it positively. In the long term, the potential integration of Dogecoin into X’s digital payments could lead to significant price increases for DOGE, potentially reaching $1 if this occurs in 2024, or $0.5 by the end of the year.
While Dogecoin remains one of the most popular meme coins in the market, it may not experience substantial gains without the integration of Dogecoin payments by X. Some traders are looking towards newer meme coins, such as Dogeverse (DOGEVERSE), which has raised over $4.5 million in its ongoing sale. Dogeverse is a multi-chain meme coin that will initially launch on Ethereum and later bridge to other chains, making it more accessible and potentially more useful than other similar meme coins. It features deflationary tokenomics with a capped supply of 200 million tokens, as well as staking options that could lead to a decrease in circulation and an increase in relative demand, pushing its price up over time.
Investors can participate in the Dogeverse sale at the official website, with the current price of 1 DOGEVERSE token at $0.000295, expected to rise with each stage of the sale. Once the sale concludes and the token lists on exchanges, the price is likely to see significant growth due to its unique design and promising features. Dogeverse is positioned to be one of the most successful new coins of the year, offering investors the opportunity to be part of a community-driven project with potential for substantial returns. It is important to note that investing in cryptocurrency is a high-risk activity and readers should conduct their own research and seek advice before making any investment decisions.
