What is “Doge Day” and why are investors waiting for it so much?
April 20 is considered to be “Doge Day”, since it is at this moment that the asset, as a rule, steadily increases in price. On this day, the Dogecoin community celebrates and reminds itself of the reason for the development of the coin. Crypto traders around the world are waiting for this date to increase their income. According to CoinMarketCap data, Dogecoin continues to rise steadily in price. Over the past 7 days, the token price has increased by 35%, and over the month – by 93%. However, against the backdrop of this recovery, many investors are turning to another coin, Dogecoin20. Its pre-sale recently completed and raised over $10 million. Does DOGE have a serious competitor? Experts believe that several factors pushed DOGE’s price up. First, it became known that the Coinbase exchange was going to launch futures trading on Dogecoin. This should happen on April 1st. In addition, ChatGPT predicted an increase in the coin price to $0.291696. Thus, the token can increase in price by 98.55%. However, there is another meme coin, inspired by Shiba Inu and the success of Elon Mack’s favorite token. The new Dogecoin20 project is an asset with a built-in staking function and all the advantages of the Proof-of-Stake algorithm.
April 20 is considered to be “Doge Day”, since it is at this moment that the asset, as a rule, steadily increases in price. On this day, the Dogecoin community celebrates and reminds itself of the reason for the development of the coin. Crypto traders around the world are waiting for this date to increase their income. According to CoinMarketCap data, Dogecoin continues to rise steadily in price. Over the past 7 days, the token price has increased by 35%, and over the month – by 93%. However, against the backdrop of this recovery, many investors are turning to another coin, Dogecoin20. Its pre-sale recently completed and raised over $10 million. Does DOGE have a serious competitor? Experts believe that several factors pushed DOGE’s price up. First, it became known that the Coinbase exchange was going to launch futures trading on Dogecoin. This should happen on April 1st. In addition, ChatGPT predicted an increase in the coin price to $0.291696. Thus, the token can increase in price by 98.55%. However, there is another meme coin, inspired by Shiba Inu and the success of Elon Mack’s favorite token. The new Dogecoin20 project is an asset with a built-in staking function and all the advantages of the Proof-of-Stake algorithm.
This asset is not related to the original Dogecoin and is a completely independent project. The blocking mechanism allows you to receive additional coins for two years. In the first year, 12.5% was allocated for payments, and in the second – 2.5%. Plus, the startup uses a more environmentally friendly PoS consensus. $DOGE20 allows for fast transfers thanks to the decentralized, eco-friendly Ethereum network. During the entire pre-sale, the token attracted more than $10 million. Despite the fact that the pre-sale was completed, the team decided to give investors another opportunity to buy the coin at a discount. So, traders have a month to purchase an asset before entering the exchange. Moreover, the release of DOGE20 is scheduled for “Doge Day”, so experts expect the growth of a new coin along with its inspiration Dogecoin.
How do experts see the DOGE forecast for 2024? Analysts, along with ChatGPT, agree on one opinion - the popular memcoin is expected to grow gradually this year. This point of view is supported by the fact that in 2023 the coin rose in price by 60%. Not lastly, such dynamics were supported by the development of Bitcoin. Another version of the GPT-4 bot assumes that the exchange rate of the coin is prone to fluctuations. Its price will probably be in the range of $0.20 or $0.30. Another neural network, Anthropic Claude Z Opus, believes that the asset can rise to $0.80. This is an extremely optimistic forecast, however, correlation with Bitcoin can have a positive impact on it. As already noted, the Coinbase exchange’s statement about its readiness to trade DOGE futures was made because, according to representatives of this platform, the coin has long been transferred from category of just a “fun token” and is quite capable of becoming a serious representative of the cryptocurrency industry. Based on this factor, experts assume that the maximum asset price by the end of the year will be $0.20. At the same time, the average indicator will be at $0.17. The RSI indicator also points to a bullish trend, and the moving average (SMA) and exponential moving average (EMA) confirm this signal. “Doge Day” can also have a great impact on the asset price. This year, this “holiday” is accompanied by Mac’s promise to “send an asset to the moon.”
