DOGE rose 5% in the past 24 hours, and the cryptocurrency market also rose 5% today, resulting in the price of Dogecoin reaching $0.1651.
Despite today’s lift, Dogecoin remains down 20% in a week, while Meme Coin is only up 2% in the past 30 days.
Still, trading volume has soared to more than $3 billion in recent days as traders try to snap up the tokens at discounted prices.
And DOGE could rise further in the near future as the market looks poised for a rebound after the weekend’s selloff.
Dogecoin Price Prediction: $3 Billion Inflow – $10 DOGE Coming?
According to DOGE’s chart, the coin reached a low over the weekend, and the current upswing is expected to last for a few more days at least.
After the coin fell well below the 200-day moving average (blue) last night, the 30-day moving average (orange) has started an encouraging move higher, and there is still plenty of room for upside.
Similarly, DOGE’s relative strength index (purple) rose to 60 after hitting 20 (twice) over the weekend. This indicates that buying pressure is returning to the token and that pressure is pushing the price further into the heights of upside potential.
As mentioned earlier, Dogecoin’s trading volume has rebounded strongly in recent days, but it is still far from the value it had in early March (when it exceeded $8 billion).
Whales appear to expect the price of this coin to continue rising in the near future, with at least one whale recently transferring its supply of DOGE to an exchange.
Some analysts are undecided whether the Bitcoin halving (April 20th) will be a bullish or selling event, so how much upside DOGE could rise in the short term? It’s difficult to say.
Assuming this leads to a more bullish environment (at least at some point), DOGE will be one of the many coins to benefit from greater crypto demand.
While Dogecoin itself lacks the foundations to succeed on its own, any future endorsement or mention from Elon Musk may cause it to see fleeting increases.
In the long term, the company continues to look forward to the possibility of his X adding digital payments to its list of features, and if those payments include his DOGE as an option. sex may even increase.
If this happens this year, DOGE could certainly reach the $1 level.
Otherwise, it could reach $0.5 by the end of 2024.
A new wave of Doge-themed meme tokens
DOGE remains one of the most popular meme coins on the market, but big gains may not be realized unless X completes Dogecoin payments .
Therefore, some traders may prefer to look for newer meme coins, especially those that are holding on to pre-sales and gaining momentum while preparing to go public.
One of the best options for Doge fans is Dogeverse (DOGEVERSE), a multi-chain meme his coin that has collected over $4.5 million in an ongoing sale.
Dogeverse, a multi-chain meme coin, will initially launch on his Ethereum before moving to Polygon, BNB Chain, Solana, Avalanche, and Base.
Multi-chain compatibility makes DOGEVERSE more accessible and useful than many other similar meme coins, and the token has the potential to be widely used in a large number of apps.
Additionally, there is a deflationary token economy as the token supply is limited to 200 million.
Staking will also be possible and a large portion of the tokens will be in circulation.
When combined with a fixed supply, relative demand increases exponentially, which can cause prices to rise over time.
Such features promise to make DOGEVERSE one of the most interesting and successful new coins of this year, and investors can participate in the sale on his DogEVERSE official website.
1 DOGEVERSE’s current price is $0.000295, but it increases with each new sales tier.
Also, DOGEVERSE’s unique design is eye-catching as it has the potential to rise significantly once the sale ends and the token list is exchanged.