Dogecoin price attracted attention by recording a critical increase in the last 24 hours; Can DOGE rise further? Current predictions!
Dogecoin Price Rises More Than 30%
Dogecoin (DOGE), the world's largest memecoin, is breaking above $0.1 for the first time since November 2022, recording gains of 33% in the last 24 hours. Currently, Dogecoin (DOGE) price is trading up 33% at a price of $0.125 and its market cap is set at $17.91 billion.
As the Dogecoin (DOGE) price rose above 12 cents, its 24-hour trading volume increased by a stunning 156% to $4.77 billion. Over the past week, DOGE price has increased by 50%, indicating the beginning of the next bull run. For the fourth time in its history, Dogecoin is issuing a two-week supertrend buy signal. Each time this signal has been confirmed in the past, it has immediately led to parabolic price movement for DOGE in the months that followed.
Additionally, Dogecoin is also experiencing a strong whale accumulation. According to data from blockchain tracking platform Whale Alert, a total of 276.21 million DOGE was accumulated from American financial services company Robinhood.
According to Whale Alert's data, there were two large whale operations responsible for accumulating this significant amount. The first transaction showed that the address DEndnpPewG…gWLmkNMAtU accumulated 172.89 million DOGE worth $16.59 million. On the other hand, the second transaction showed that the address DGG1Ght6LB…pcSXme8X5S accumulated 103.32 million DOGE worth $9.87 million.
DOGE Price Target and Memecoin Rise
Famous cryptocurrency trading expert Ali Martinez made a bold prediction predicting a possible parabolic breakout for Dogecoin. Martinez predicts that Dogecoin could skyrocket to $1.7 by April, and he infers this from historical chart patterns and the ever-changing dynamics of the market.
The recent Dogecoin price action started a rally in the memecoin space. Shiba Inu has also gained 20% in the last 24 hours and is currently trading at $0.00001301, with a market cap of $7.67 billion. Daily transaction volumes increased by 70% and exceeded 1.5 billion dollars.
Additionally, recent reports indicate that Shiba Inu will introduce a new privacy-focused network on the Shibarium blockchain, increasing the value proposition of SHIB tokens. At the same time, Shiba Inu Futures experienced a significant increase in open interest, reaching 120%. In the future, Shiba Inu price could possibly head towards the $0.0000119, $0.0000158, and $0.000018 levels.
