DOGE has experienced a 5% increase in the past 24 hours, with the price of Dogecoin reaching $0.1651 as the overall cryptocurrency market also saw a 5% rise. However, despite this recent increase, Dogecoin remains down 20% in the past week and has only seen a 2% increase in the last 30 days. Despite this, the trading volume for DOGE has surpassed $3 billion in the past few days as traders look to purchase the token at a reduced price. With the market showing signs of a potential rally following the weekend’s dip, DOGE could potentially see further gains in the near future.
Dogecoin’s chart indicates that the coin hit a bottom over the weekend, and the recovery observed today is expected to continue for a few more days. The coin’s 30-day average has started to rise following a dip below the 200-day average, and the relative strength index suggests that buying pressure has returned to the token. Furthermore, an increase in trading volume in the past few days indicates a strong recovery, although it remains below early March levels. Whales in the market seem to anticipate a rise in DOGE’s price, with some moving their DOGE holdings to exchanges in recent transactions.
The future trajectory of DOGE remains uncertain, as analysts are divided on whether the upcoming Bitcoin halving on April 20 will have a bullish impact or result in a sell-the-news event. However, if overall sentiment turns more bullish, DOGE, along with other cryptocurrencies, could benefit from increased investor interest. While Dogecoin lacks strong fundamentals to drive its price independently, a endorsement from Elon Musk or inclusion in X’s digital payments could lead to temporary price surges. In the longer term, the potential for DOGE to be included in digital payments could significantly boost its value, with a possible price target of $1 if this occurs in 2024.
While DOGE is a popular meme coin in the market, its potential for significant gains may be limited without the integration of Dogecoin payments by X. As a result, some traders may turn to newer meme coins that have been gaining momentum and preparing to list. Dogeverse (DOGEVERSE) is a multi-chain meme coin that has raised over $4.5 million in its ongoing sale. By launching on multiple chains such as Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base, DOGEVERSE aims to be more accessible and useful to users, with deflationary tokenomics and staking features that could drive up the token’s price over time.
DOGEVERSE’s unique design and features make it an intriguing investment opportunity, with a limited supply of 200 million tokens and the potential for increased demand as tokens get staked and exit circulation. Investors can participate in the DOGEVERSE sale on the official website, with each token currently priced at $0.000295, expected to increase with each stage of the sale. Once the sale ends and the token lists on exchanges, DOGEVERSE’s price is likely to rise significantly, making it a coin to watch in the coming months. However, as with all cryptocurrencies, investing in DOGEVERSE carries a high level of risk and individuals could potentially lose all their capital.
