Dogecoin Soars with a 20% Surge in Value 📊
🚀 Dogecoin, the largest meme coin by market value, surged over 20% today, while BTC found buyers at $60,700. However, altcoins haven't seen desired gains except for a few like SOL, SHIB, and DOGE, which gained over 15%.
💰 In the last 24 hours, Dogecoin's value surged by 30%, with its market cap reaching $18.6 billion. Interest in Dogecoin futures increased by 50%, with open interest hitting a record level of $1.09 billion. However, a market sentiment relaxation is expected.
📈 Other meme coins like BONK and Shiba Inu also became active today, reflecting rapid rises typical during such periods.
🔮 Market commentators like Kaleo and Rekt Capital express optimism about Dogecoin's future, predicting further price rises. Rekt Capital suggests a potential increase of over 300%, with a monthly close above the macro downtrend signaling a new uptrend for DOGE.
⚠️ However, caution is warranted as Dogecoin is currently in the "overbought" zone according to CryptoQuant analysis, suggesting profit-taking may follow.
