Dogecoin King Returns: Surge 24% in 24 Hours, Sprinting Towards New Year-End Highs!

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Dogecoin (DOGE) has made a strong rebound in the crypto market recovery, rising 24.19% in the past 24 hours, now priced at $0.3352. Behind this surge, multiple data points suggest that its price may further soar.

Trading Volume Soars, Whales Frenzy Over DOGE

Dogecoin's daily trading volume has surpassed $8 billion, up 1% from the previous day, indicating a rapid increase in market liquidity. Even more noteworthy is the active performance of whales: transactions over $100,000 surged by 41.12%, reaching $23.35 billion. This indicates that demand from large investors for Dogecoin is rapidly heating up.

Market Recovery, Dogecoin Back on Track

Previously, DOGE fell from $0.4109 to $0.27; as market sentiment warms up, its price fundamentals are beginning to recover. Some market observers even predict that DOGE may target $1 within the year, with a potential return rate of up to 245%.

ETF Rumors and Technical Indicators Provide Double Support

There are reports that a DOGE ETF launch plan is in the works; although there is no formal application yet, this expectation has boosted market sentiment. Meanwhile, technical analyst Tardigrade stated that Dogecoin's RSI indicator has entered the rebound zone. If historical trends continue, its price may soar to $1.35, and even the peak of the next cycle may break through $3 to $4.

Short-Term Risks Persist, but the Future is Promising

Although the macro environment still poses challenges, such as the Federal Reserve's warning on inflation leading to increased volatility in risk assets, DOGE's long-term potential remains unaffected. The market has liquidated about $35.1 million in DOGE; while short-term volatility has increased, it also accumulates momentum for the next phase of rebound.

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