Dogecoin has seen a 3.5% increase in price over the past 24 hours, reaching $0.1515. While the market as a whole has climbed by 2.5%, Dogecoin has gained 14% in a week but lost 20% in a month. Recent indications suggest that whales have been accumulating Dogecoin, with one transfer of $19 million in DOGE off Robinhood. This accumulation could lead to further gains in the coming days, hinting at a potentially busy weekend for the market.
The chart for DOGE indicates that the coin may be at the beginning of an upswing that could last for several days before losing momentum. The 30-day average is crossing over the 200-day average, forming a golden cross that often signifies a breakout. Additionally, the relative strength index is hovering between 50 and 70, showing strength in the meme token. Data suggests that whales have been re-accumulating DOGE, with the share of total supply held by whales increasing this week.
Addresses holding between 100 million and 1 billion DOGE now hold 21% of the circulating supply, up from 20.75% a week ago. This slight increase indicates that whales have been buying DOGE at lower prices to profit once the price rises. Dogecoin holds long-term potential, especially if X introduces digital payments on its platform that include DOGE transactions. This development could push the price of DOGE to $0.5 by the end of the year.
Despite Dogecoin’s popularity, new meme coins like Dogeverse are emerging with significant potential. Dogeverse, a multi-chain meme coin, has raised over $15 million and will operate on various networks like Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base. The multi-chain compatibility could lead to wider adoption and usage across different platforms, boosting its value over time. Additionally, its hard cap of 120 million tokens and staking system are designed to make it deflationary, driving the price up.
Investors looking to participate in DOGEVERSE can join the sale on the official Dogeverse website. The coin has reached its final presale price of $0.00031 and aims to surpass this level once it lists in the coming weeks. With its promising features and potential for growth, DOGEVERSE is set to attract attention in the market. However, it’s important to remember that cryptocurrency investments are high-risk, and caution should be exercised when investing in such assets.
