DOGE has gained by 5% in the past 24 hours, with the Dogecoin price reaching $0.1651 as the cryptocurrency market also rose by 5% today.
Despite today’s lift, Dogecoin remains down by 20% in a week, with the meme coin up by only 2% in the last 30 days.
Yet its trading volume has climbed beyond $3 billion in the past few days, as traders look to buy up the token at a discount.
And with the market looking like it’s ready to rally again after the weekend’s dip, DOGE could see further gains in the very near future.
Dogecoin Price Prediction as $3 Billion Floods In – $10 DOGE Incoming?
DOGE’s chart shows that the coin had hit a bottom over the weekend, and that today’s recovery should continue for at least a few days yet.
After falling well below its 200-day average (blue) last night, the coin’s 30-day average (orange) has begun rising encouragingly, with plenty of room left to rise.
Source: TradingView
Similarly, DOGE’s relative strength index (purple) has risen to 60 after touching 20 (twice) over the weekend, a sign that buying pressure has returned to the token, and this pressure could continue boosting its price.
As noted above, Dogecoin’s trading volume has recovered strongly in the past few days, although it’s still some way from where it was in early March (when it passed $8 billion).
It seems that whales expect the coin’s price to continue rising in the near future, with at least one whale moving their stash of DOGE to an exchange recently.
99,253,084 #DOGE (16,153,109 USD) transferred from unknown wallet to #Robinhoodhttps://t.co/yCSkMvxcDb
— Whale Alert (@whale_alert) April 14, 2024
It’s hard to say just how strongly DOGE could rise in the near future, with some analysts undecided as to whether the Bitcoin halving (April 20) will be bullish or a sell-the-news event.
Assuming that it does lead to a more bullish evironment (at least eventually), DOGE will be one of many coins to benefit from a greater appetite for cryptocurrencies.
As for Dogecoin itself, it lacks the fundamentals to propel it on its own account, although any future nod or namedrop from Elon Musk could help it enjoy brief rallies.
In the longer term, it continues to wait on the possibility of X adding digital payments to its list of features, something which could send it surging if such payments include DOGE as option.
If this happens this year, DOGE could certainly hit $1.
If not, it may reach $0.5 by the end of 2024.
New Wave of Doge-Themed Meme Tokens
DOGE remains one of the most popular meme coins in the market, yet it potentially won’t experience big gains unless X comes through with Dogecoin payments.
As such, some traders may prefer to look towards newer meme coins, particularly those that have been holding their presales and gaining momentum as they prepare to list.
One of the best options for Doge fans is Dogeverse (DOGEVERSE), a multi-chain meme coin that has raised over $4.5 million in its ongoing sale.
#Cosmo is buzzing with excitement this morning! #DOGEVERSE has reached another insane milestone!
Raising more than $4.5 million!
Have a great week everyone and let’s get our next goal of $5M! pic.twitter.com/JLGxocKaD1
— DogeVerse (@The_DogeVerse) April 15, 2024
As a multi-chain meme coin, Dogeverse will launch initially on Ethereum, before bridging to Polygon, BNB Chain, Solana, Avalanche and Base.
By being compatible with multiple chains, DOGEVERSE will be more accessible and more useful than many other similar meme coins, with the token potentially finding plenty of application on numerous apps.
On top of this, it has deflationary tokenomics, with the token’s supply capped at 200 million.
It also enables staking, which should result in a large percentage of the token exiting circulation.
In combination with the fixed supply, it could see relative demand increase exponentially, pushing its price up over time.
Step into the #DOGEVERSE, the pioneer in #Doge Meme #Tokens, spanning across #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche, and #Base.
Join our interconnected galaxy of $DOGE enthusiasts, where community, rewards, and playful creativity collide! pic.twitter.com/7ZSoanpV5s
— DogeVerse (@The_DogeVerse) April 14, 2024
Such features promise to make DOGEVERSE one of the most interesting and successful new coins of the year, with investors able to join its sale at the official Dogeverse website.
1 DOGEVERSE currently costs $0.000295, although this will rise with each new stage of the sale.
It’s also likely to rise dramatically once the sale ends and the token lists on exchange, with DOGEVERSE’s unique design making it one to watch.
Buy DOGEVERSE Today
The post Dogecoin Price Prediction as $3 Billion Floods In – $10 DOGE Incoming? appeared first on Cryptonews.