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Dogecoin’s price surge, currently trading at $0.16, up 60% in the past week, reflects a broader trend of meme coins. Will $DOGE hit $1 this year?
As the cryptocurrency market gains traction with support from U.S. markets, meme coins are getting ready for a huge surge. Dogecoin (DOGE), the largest meme coin by market cap, is indicating a fast rebound.
Dogecoin has climbed back into the top ten cryptocurrencies, with a market cap of $23 billion. Other dog-themed coins like Shiba Inu are also seeing significant gains, showing positive sentiment in the meme coin market.
Dogecoin price analysis
Meme coins are the talk of the town in today’s market, with many seeing big gains. Right now, Dogecoin’s price is at $0.16, shooting up by more than 60% in just a week.
Other meme-based digital currencies like $PEPE, $BONK, and $FLOKI are also on the rise, bringing some excitement to the meme coin scene. Over the past month, Dogecoin’s value has jumped by a whopping 100%.
This surge came after Dogecoin broke through a tough resistance level near $0.15, hinting at possible further gains. The rise was backed by Bitcoin’s price climbing over $65,000, giving a boost to the altcoin market.
Trading for Dogecoin has been brisk, with trading volume shooting up by 67.32% to hit $7.6 billion. As the 9th largest cryptocurrency by market capitalization, Dogecoin boasts a market cap of about $23 billion.
In recent trading sessions, Dogecoin’s value has been all over the place, ranging from $0.84 to $0.17. Despite this volatility, it’s been on a strong upward trend, surging by nearly 70% in the past week alone, making it one of the standout performers in the market.
Dogecoin price prediction
Several factors have contributed to the recent rise in Dogecoin’s price, including the release of Dogecoin version 1.14.7 and significant deposits by large investors on exchanges. Having surpassed the crucial resistance level of $0.125, analysts are now looking at $0.18 as the next target.
However, some experts warn that the current price movement resembles past bull markets, which were often followed by sharp declines. If Dogecoin maintains stability above the critical $0.15 resistance level, it could climb to $0.18 and eventually reach the highly anticipated $1 milestone.
However, achieving this optimistic scenario depends on Dogecoin’s ability to break through key resistance levels while sustaining its current momentum. On the other hand, a downturn is likely if Dogecoin fails to surpass the $0.1 barrier.
Initial support is around $0.095, with a more significant support level at $0.090. If prices fall below this point, Dogecoin may decline further to $0.085. Experts predict that the crypto bull run will kick off in 2024 due to the Bitcoin Halving event.
However, some argue that the current market conditions indicate that the bull run may already be underway, with Bitcoin surpassing $64,000 and speculation and excitement driving up the prices of $DOGE and other meme coins.
Based on these factors, our Dogecoin price prediction for 2024 is optimistic, estimating a potential high of $0.32, a low of $0.07825, and an average price of $0.1150 by the end of the year.
However, if Dogecoin fails to sustain its current growth rate, its price may stabilize around $0.845 in a competitive market. Nevertheless, there is potential for Dogecoin to reach the $1 mark by 2029, with a potential high of $1.19 for the year.
$DOGE whale transactions fuel rally
In the last four days, there has been a significant surge in Dogecoin whale activity, particularly on Coinbase and Binance exchanges. A total of 196.5 million $DOGE was moved to and from Coinbase, a major U.S.-based exchange.
Only 60 million Dogecoin were withdrawn from Coinbase to an unknown blockchain address, while the remaining large portion of meme coins was transferred to Coinbase from anonymous wallets within the past 24 hours.
In seven other transactions, Binance exchange was involved. A staggering 466 million $DOGE was withdrawn from this leading cryptocurrency trader into anonymous digital wallets over the weekend.
Additionally, an astonishing 600 million $DOGE was sent to Binance, and 450 million $DOGE was moved from an unknown wallet to the Robinhood brokerage app. In total, over 1.6 billion Dogecoin were transferred.
Scotty the AI – Alternative dog-themed meme coin to $DOGE
Scotty the AI is getting noticed in the crypto world because of its use of AI and blockchain, represented by a fun Scottish Terrier mascot. People like its AI features, like ScottyChat, which gives real-time market info and personalized advice. It also has Scotty Swap, a secure DEX run by AI, making trading easy.
$SCOTTY
#1 memecoin (w/Ai Utility) of 2024Updates on the Scotty chat, Scotty swap, and the play 2 earn game coming soon!
Follow https://t.co/zRmy4g8hfW to keep up with latest updates.
🎉join presale herehttps://t.co/zRmy4g8hfW#bitcoin #Ethereum $SHIB #Memecoin2024… pic.twitter.com/0kQlZ0z03M
— Scotty The Ai (@ScottyThe_Ai) March 6, 2024
Scotty’s staking feature promises a 62% yearly return, attracting over 212 million token pledges. The ICO has gathered $2.8 million and is in its 13th stage, with SCOTTY tokens selling at $0.00755 each. 30% of tokens are for presale, while 70% are set aside for staking, development, and marketing. Refer to this guide if you want to learn how to buy $SCOTTY.
Next, Scotty the AI wants to list on exchanges to get more attention and investors. It hopes to compete with coins like Dogecoin and Shiba Inu, inspired by the success of low-cap meme coins. Scotty the AI stands out by focusing on usefulness, giving users clear benefits with its AI features.
While the crypto future is unclear, Scotty the AI could be a big player. With the ICO gaining steam, Scotty the AI is ready for an exciting journey. To take part in the $SCOTTY token presale visit scottytheai.com.
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