Dogecoin Price Prediction: DOGE Pumps 4% – Is The Hype Back?

Dogecoin is bullish today, with a 4.3% gain in 24 hours. DOGE is rebounding alongside the rest of the crypto market as traders react to Grayscale winning its litigation against the US Securities and Exchange Commission.

DOGE was trading at $0.065 at the time of writing. In the last 24 hours, the price has moved between $0.062 and $0.067, indicating mild volatility.

Despite the recent gains, Dogecoin is down by 17% in the last 30 days and is still among the top cryptocurrencies in the market.

Dogecoin Pumps 4% As Investor Confidence Returns

Dogecoin has been struggling to make significant gains over the past month. While DOGE has made some notable independent rallies in the past, the recent trend shows it is following the momentum of the broader market.

DOGE has been on a steady decline since late July. At the time, the meme coin was trading at levels above $0.075.

The token witnessed a massive plunge on August 18 as the price dropped to $0.059, marking a new monthly low. The low price attracted some buying activity but failed to break a critical resistance at $0.064.

Dogecoin’s Turns Bullish As Volumes Soar

Dogecoin has posted an over 200% increase in trading volumes in the last 24 hours to $486 million. The high volumes hint at a bullish momentum.

DOGE is highly speculative, and the volumes indicate that traders are rushing to accumulate and book profits when the crypto market is still uptrend.

The triangle formed after the recent price movement indicates that if DOGE can push past a critical level at $0.074, it could break out past $0.079 or higher.

On the other hand, selling activity might kick in as those who bought during the recent uptrend cash in gains. If it fails to break past resistance, a drop to $0.058 could happen.

Dogecoin Community Remains Hopeful As X Gets Crypto License

X, formerly Twitter, has obtained a currency transmitter license from Rhode Island regulators. The permit lets the company custody, transfer, and exchange crypto assets.

JUST IN: 🇺🇸 X (Twitter) obtains license required for crypto payments and trading.

— Watcher.Guru (@WatcherGuru) August 29, 2023

This license was approved on August 28, and with Musk’s massive support for DOGE, the community is hopeful that DOGE payments might be introduced to X. However, X has yet to confirm the financial offerings that will be made available.

New Meme Coin To Watch, SONIK, Raises Over $760,000

SONIK, a new meme coin in the crypto industry, started its presale in mid-August. The presale has now raised more than $761,000 as investors rush to buy before the event closes.

The SONIK presale ends in six days or after a $2.09 million hard cap is attained. Once the hard cap is achieved, SONIK will be listed on the Uniswap decentralized exchange.

50% of the SONIK supply is designated for the presale. The token might emerge as the fastest meme coin to attain a $100 million market cap.

Investors are already making deposits on Sonik’s stake-to-earn platform. More than 26 million SONIK tokens have been staked so far.

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