$DOGE Hits the $0.20 Mark, Can It Continue the Surge Myth?
The Dogecoin market experienced a crazy surge yesterday, catching many off guard, especially since other cryptocurrency markets remained calm. This wave of increase is believed by many to be related to the rising momentum of former U.S. President Trump's election campaign.
Dogecoin, the star of the meme coin world, certainly put on a show yesterday, soaring by 11.83% within 24 hours! The price jumped from a low of $0.1504 to a peak of $0.1689, and at the time of writing, it was still hovering around $0.1681. Not only did the price rise, but Dogecoin's market cap also increased by 12%, reaching $24.66 billion.
Dogecoin's network activity is also skyrocketing, with daily trading volume hitting a high of $3.19 billion, a surge of 56%! It seems everyone is really excited about Dogecoin.
Looking at IntoTheBlock's data, 85% of cryptocurrency users would make a profit if they sold their Dogecoin now. Of course, 12% might incur some losses, and 3% could potentially lose everything. But overall, the situation looks quite favorable.
Regarding the predictions for November, CoinCodex's data shows that market sentiment is shifting, with prices potentially dropping to $0.147173. However, considering last month's market performance, prices are expected to fluctuate between $0.138392 and $0.163392. If one buys Dogecoin now and shorts according to the expected rate, the profit could be as high as 17.66%!
Although Dogecoin surged so much today, CoinCodex's predictions are not set in stone and might change in a few days. The $0.20 mark is just within reach, but Dogecoin needs to maintain this momentum to break through soon. If Trump does win the election, the Dogecoin market might surge again!
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