DOGE surged over 7% in the last day, nearing $1, leading a crypto market uptrend. Whale buying and positive sentiment boosted its value.
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In the last day, the crypto market saw a rise, with Dogecoin (DOGE) leading among the top 10 coins by market value. Bitcoin increased by 1.52% to $70,960.41, up by 6.51% for the week. Ethereum also rose by 3.01% in the day and 5.58% for the week.

Dogecoin (DOGE) Surges Amid Overall Crypto Market Growth
Dogecoin (DOGE) has emerged as a standout performer in the crypto market, experiencing a notable surge of 7.86% in the last 24 hours and an impressive 25.85% over the past week. This surge stands in contrast to Binance Coin (BNB), which saw only a marginal daily increase of 0.16%, contributing to a weekly gain of 6.75%.
Furthermore, a key indicator reflecting the overall performance of the digital asset market, rose by 2.42% to 2,954.56, signaling positive momentum. Additionally, open interest in the market increased by 3.9%, reaching $80.78 billion. This broad-based surge underscores the prevailing bullish sentiment in the crypto space, with Dogecoin notably benefiting from this trend.

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Despite the growing popularity of new meme coins, some analysts emphasize the continued significance of Dogecoin within the altcoin sector.
Dogecoin’s Market Performance: Whale Accumulation Impact
Ali Martinez, in a recent social media post, highlighted a notable trend in Dogecoin (DOGE) whale wallets. Since March 15th, there has been a steady increase in whale wallets holding between 10 million to 100 million DOGE tokens, amounting to approximately $280 million. This accumulation, the highest recorded within a two-week period since Dogecoin’s surge in popularity during the 2021 bull market, suggests significant investor interest.

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I feel my fellow degens have been distracted with the new shiny #memecoins, but #Dogecoin remains the most important #altcoin in this sector.From a technical perspective, #DOGE seems to mirror the 2018-2021 pattern. If so, $DOGE  could be at the very beginning of a massive… pic.twitter.com/WGREwsxPcb— Ali (@ali_charts) March 31, 2024

Martinez’s analysis also suggests a correlation between this whale accumulation and the recent strengthening in Dogecoin’s price. This indicates a potentially influential role of whale activity in shaping the coin’s trajectory. The surge in open interest, reaching a new record of $2.2 billion, further supports this narrative.

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Currently priced at $0.22, Dogecoin has around 602,000 addresses that purchased DOGE at an average price of $0.35 and are still awaiting breakeven. This suggests a potential 59% increase to reach the $0.35 level, which remains a critical threshold for market dynamics. However, if the price dips below this mark, support levels at $0.1745 and $0.1563 are poised to mitigate the fall, potentially attracting buyers back into the market.
Despite fluctuations, the future of DOGE in the crypto industry appears promising. Ongoing positive sentiment, increasing whale activity, and notable market performance continue to bolster its prospects. As Dogecoin captures the attention of investors and enthusiasts, its trajectory towards mainstream adoption and further price appreciation remains an enticing prospect in the ever-evolving landscape of cryptocurrencies.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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In 2023, the cryptocurrency market is poised for exciting developments as speculations surround the potential price movements of Dogecoin and Wall St Memes.

Dogecoin, the popular meme-inspired cryptocurrency, has garnered significant attention, and discussions revolve around the possibility of its price reaching the milestone of $1.

On the other hand, Wall St Memes, a rising player in the crypto space, is generating buzz with predictions of a 100x surge in its value.

These anticipated outcomes have captured the interest of investors and enthusiasts, fueling discussions about the future of these cryptocurrencies in the coming year.

Dogecoin Price Prediction: Will it Reach the $1 Mark?

The current price of Dogecoin is $0.071166, and it has a 24-hour trading volume of $1.4 million. Over the past 24 hours, Dogecoin has seen a 0.18% increase in value.

As of now, it holds the 8th position on CoinMarketCap, with a market capitalization of $9,928,955,609. The circulating supply of Dogecoin is 139,518,236,384 DOGE coins.

On the technical front, Dogecoin is currently trading at a price of $0.0717. Looking at the four-hour timeframe, Dogecoin has broken through a significant resistance level at $0.0715, which had previously acted as a support on May 22nd, 16th, and 13th.

The candlestick closures above this level indicate a slight bullish bias in Dogecoin and suggest the potential for further upward movement.

Additionally, the 50-day exponential moving average is providing support around the $0.0710 level, and the candlestick closures above this level further reinforce the bullish sentiment in Dogecoin's price today.

Furthermore, the RSI indicator is holding steady, adding to the overall positive outlook. It is important to monitor the $0.0715 level for a sustained breakthrough to target the next resistance levels at $0.0730, $0.0740, and $0.0750.

Conversely, if Dogecoin's price drops below the $0.0710 level, the next support levels to watch are $0.0700 and $0.0687.

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The Securities and Exchange Commission (SEC) recently set their sights on the US crypto giant Coinbase. The lawsuit was filed on Tuesday in the Southern District of New York, and it accused Coinbase and its parent company, CGI, of breaking securities law by acting as an unregistered broker for its main crypto trading platform.

In addition to this, the SEC named 13 crypto tokens that are allegedly being sold as investment contracts or securities. The cryptos in question included some big names in the industry like Solana (SOL), Axie Infinity (AXS), Polygon (MATIC), and The Sandbox (SAND). It is worth taking note, however, that meme coins were absent from this list.

The community believes that it is thus only logical to assume that this could have a positive effect on the prices of well-known meme coins like Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE). Nevertheless, CoinMarketCap indicated that SHIB was trading in the red after it saw a slight price drop of 0.01% over the past 24 hours of trading, leaving SHIB’s price at $0.000008028.

Daily chart for SHIB/USD (Source: TradingView)

From a technical perspective, SHIB’s 9-EMA line is positioned below its 20-EMA line. This could suggest that the meme coin is in a short-term bearish cycle that could result in further price drops. On the other hand, the price of DOGE was able to climb by more than 4% over the past day, leaving its price trading at $0.0693.

Daily chart for DOGE/USD (Source: TradingView)

DOGE’s price rise was, however, not enough to pull its weekly performance out of the red zone as DOGE was down 3.09% over the past 7 days at press time. DOGE is, unfortunately, in the same boat as SHIB with its 9-EMA line positioned bearishly below its 20-EMA line.

Meanwhile, PEPE was able to earn itself a spot on CoinMarketCap’s trending list after the meme coin saw a price increase of 14.79%. As a result, PEPE was trading hands at $0.000001142.

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