With a 40% increase, how high can $DOGE go in April?
The fun cryptocurrency Dogecoin (DOGE), which gained popularity on the internet, is seeing an unexpected spike in value, which has caught the attention of both retail and institutional investors.
Price increases of 37% in the previous seven days and over 10% in a single day were recorded by CoinGecko. Experts warn that this meme-inspired coin's future may not be rosy, despite the fact that its surprise surge has the "Doge army" roaring with delight.
Dogecoin, a playful spoof of Bitcoin that debuted in 2013, has surprised everyone. It has grown into a representation of decentralized digital money and has a devoted fan base. Nevertheless, Dogecoin is still a long way off from its all-time high of $0.73, which it achieved in May 2021, despite its recent ascent.
From a technical standpoint, Dogecoin seems to be regaining some of its lost ground around $0.1599, where it had a bounce earlier. However, there is clear resistance close to the most recent high of $0.2184. Speculation is at an all-time high as we approach the weekend. The price of DOGE might fall by 6–7 percent in the next few days, according to some experts.
The rapid increase in the price of Dogecoin has been followed by whale activity. Investors are more confident in Dogecoin due to the surge in activity seen in the on-chain market dynamics. The increasing accumulation by "whales" demonstrates the power of large-scale holders on cryptocurrency market movements and valuations.
While this was happening, Coinbase Derivatives recognized Dogecoin's transition from a fantastical online phenomenon to a crypto asset and adopted it, signaling a significant change in perspective.
Dogecoin's continued success and rise beyond its meme status point to the cryptocurrency's increasing popularity among both institutional and individual investors. The recent surge of Dogecoin demonstrates its resilience and appeal in the dynamic cryptocurrency market, just as interest in the Coinbase IPO is on the rise.
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