Dogecoin is the latest member of the exciting 2025 bull rally. The memecoin has experienced a remarkable increase of almost 15% within the past 24 hours. The recent surge can be attributed to significant whale activity and an increase in trading volume over the last 24 hours.
Dogecoin was acquired by crypto whales in a massive purchase of 1.08 billion DOGE. Additionally, the memecoin’s trading volume has seen a significant jump of 190%. The massive uptick in activity could be a signal of growing confidence in the token.
Also, recent developments have intensified discussions surrounding Dogecoin, particularly its alleged ties to Trump’s inauguration. Speculation has grown that Elon Musk’s endorsement of both Dogecoin and Trump could be a driving force behind the recent price surge.
Notably, the crypto analyst Surf DOGE’s 3-month Supertrend indicator has turned bullish. The last time this indicator turned green was in April 2017. It led to massive gains of 5,587% by January 2018 and another 3,837% surge to $0.7390 in May 2021. If history repeats, Dogecoin could see another major rally.
Analysts discuss the probability of Dogecoin hitting $0.5
Dogecoin has once again shown its capacity to make swift upward movements. Its most recent activity could even be the beginning of something more significant. Analysts are currently speculating whether Dogecoin could regain its former prominence and achieve new heights.
Some technical analysis have highlighted that Dogecoin is currently exhibiting a clear impulsive trend. This change in market dynamics follows DOGE’s recent surge past key demand thresholds.
The “robust buying enthusiasm signal” could mean that the momentum has the potential to drive Dogecoin up to the $0.50 threshold, which is a crucial psychological and technical benchmark.
However, for this scenario to occur, Dogecoin needs to break through the resistance at the local highs. Surpassing these resistance levels could set the stage for a significant rally, possibly reflecting its most powerful movements from earlier market cycles.
Notably, since Trump’s inauguration is only two weeks away, it is highly anticipated that DOGE will be impacted by the new administration. Therefore, achieving this will necessitate ongoing backing from the wider market and persistent engagement from its committed community.
Finally, if the bullish trajectory persists, DOGE has the potential to once again lead the altcoin space. It would be reminiscent of the original memecoin’s capacity to astonish even the most experienced traders. Meanwhile, DOGE price is trading around $0.389, reflecting a rise of 11.51% in 24 hours and 23% over the past week.
Will Dogecoin profit from Elon Musk’s new payments system?
X, the social media platform, has announced its intention to introduce a payment-processing platform this year. The corporation which Tesla CEO Elon Musk owns, has been the most prominent supporter of DOGE.
Recently, MacRumors published leaked source code purportedly from X’s new payments service online. Although there is no official confirmation that the code is indeed from the forthcoming payments platform, the purported disclosure has increased enthusiasm for the service. The crypto industry is waiting to see if it will incorporate any cryptocurrencies, and which.
As of now, there is no definitive indication regarding the integration of DOGE into the X payments network. However, this has not hindered the surge of favorable momentum for the popular meme coin; rather, it may have influenced the surge.
Notably, as a token that primarily functions as a speculative investment and payment mechanism, Dogecoin’s valuation is closely tied to adoption trends and overall market momentum. Therefore, if X’s payment system includes the token as one of the key supported cryptocurrencies, it might result in significant valuation gains.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
