Dogecoin Price Prediction as Daily Trading Volume Surges Past $400

Dogecoin

Dogecoin (DOGE) price predictions remain uninspiring, despite an uptick in trading volumes to above $400 million in the past 24 hours.

The Dogecoin price was last changing hands just above $0.08, with the 21DMA at $0.0809 acting as a magnet.

As per CoinGecko, 24-hour trading volumes for the world’s largest meme coin by market capitalization was last around $400 million.

That’s a jump from trading volumes seen towards the end of last week.

Between Thursday and Sunday, Dogecoin didn’t clock daily trading volumes of more than $300 million, as per Yahoo Finance data.

The uptick in Dogecoin trading volume comes as the broader market picks up.

Bitcoin (BTC) hit two-week highs near $44,000 on Tuesday as concerns about Grayscale selling fade and bullish bets return.

Ether (ETH) pushed into the upper $2,300s as major UK bank Standard Chartered predicted a potential rally to $4,000.







Other altcoins have been doing even better, with the Solana (SOL) price up over 25% in 7 days, as per CoinMarketCap.

But while the Dogecoin price is up around 10% from its 2024 lows under $0.075, its price action remains subdued.

Since breaking below its Q3 2023 uptrend in early January, the Dogecoin price has been languishing in a downtrend.

The 50DMA and downwards trendline coincide around $0.087.

For Dogecoin price predictions to turn more bullish, Dogecoin would need to pop above this resistance zone.



Dogecoin Price Prediction – Is $1 DOGE Possible?.


Dogecoin’s very short-term outlook remains downbeat thanks to technicals.

But assuming that the broader crypto bull market continues, dips probably won’t last too long or be too deep.

Indeed, as risk appetite across the crypto market increases this year in wake of spot crypto ETF approvals, the Bitcoin halving, a rate-cutting cycle from the Fed and potential political and fiscal tailwinds in the US on election year, Dogecoin is a good candidate to perform well.

That’s particularly true in light of the fact that Dogecoin largely failed to keep pace with Bitcoin and Ether’s big price pumps in 2023, meaning that Dogecoin might represent a comparatively favorable value bet.

Dogecoin briefly reached a market cap of $82 billion in 2021.

Assuming the cryptocurrency can surpass this level in 2024 or 2025, DOGE stands a chance of reaching $1.

There are currently around 142 billion Dogecoins in issuance, meaning DOGE would have to reach a market cap of $142 billion for each token to be worth $1.

Dogecoin price bulls will be hoping that Elon Musk’s X helps DOGE on its path to $1.

X is teasing the launch of a new payments platform.

Musk, a long-time Dogecoin supporter, has teased that Dogecoin could play a role in X’s future payments system.

Dogecoin could be a strong investment choice for 2024.

Better Meme Coin Alternative to Dogecoin.


Dogecoin’s bloated market cap means it is a highly risky bet, with limited upside potential and big...

https://cryptonews.com/news/dogecoin-...

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #doge #dogenews #dogenewstoday #dogecoin #dogecoinnews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple