Here’s How High Dogecoin Can Rise if DOGE Gets $50 Billion Daily Volume
Dogecoin, the first meme coin, has repeatedly shown its capacity for explosive price movements, often coinciding with spikes in trading volume.
Historical data reveals that each time Dogecoin (DOGE) sees a price surge, there is an accompanying rise in volume. As a result, understanding the relationship between volume and price could help in projecting what will happen if DOGE achieves a daily volume of $50 billion.
Historical Context Between DOGE’s Volume and Price Dogecoin reached its all-time high above $0.73 in May 2021, fueled by a surge in daily trading volume, which peaked at about $46 billion, according to market data from CoinMarketCap.
This massive rise was influenced by retail enthusiasm, celebrity endorsements like Elon Musk’s tweets, and market-wide euphoria. At its peak, Dogecoin’s market cap exceeded $98 billion, making it one of the top crypto assets by valuation at the time.
However, as DOGE dropped from the $0.73 peak, investor participation reduced, leading to an equal slump in trade volume. In recent times, Dogecoin’s 24-hour volume averaged $3.5 billion.
Nonetheless, this figure surged massively amid the latest election-induced increase in price. For context, Dogecoin spiked 177% from $0.1582 on Nov. 5 to a three-year peak of $0.4385 on Nov. 12. Within this period, volume rose beyond $19 billion and particularly hit a peak of $39.9 billion on Nov. 12.
Dogecoin Potential Price at $50B Volume Currently, Dogecoin trades at around $0.3945 with a 24-hour volume of $8.7 billion. This is in contrast to its 2021 heights, confirming the important role of volume in driving upward momentum.
When trading volume spikes, it typically signifies heightened interest and liquidity, which can amplify price movements, especially in speculative assets like DOGE.
