Dogecoin Price Surges Past $0.20 Eyeing $0.50 By August, But Could This $0.08 Crypto Be Set To Beat It?

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Dogecoin Price

DOGE has experienced a surge, surpassing $0.20 in the past 24 hours, as meme coins demonstrate strong performance relative to the broader cryptocurrency market. DOGE trading volume has exceeded $7.2 billion, with derivatives open interest reaching $2.65 billion, indicating robust market participation.

This rally in DOGE occurs amidst a week of heightened volatility across major cryptocurrencies. Bitcoin's ascent above $71,000 has spurred renewed buying interest, while Ethereum staking rates and DeFi activity are increasing on Layer 2 solutions. This environment of increased interest provides a backdrop for emerging projects in the decentralized finance space.

Dogecoin Price Momentum: DOGE Eyes $0.50

Dogecoin's price has demonstrated a notable increase, breaking through key resistance levels at $0.1750 and $0.1800. Bulls propelled DOGE's price near $0.214 before a slight pullback. Technical analysts now identify $0.225 as the next significant resistance level.

Analysts suggest that maintaining a level above $0.19 is crucial for DOGE. The consensus is that this level is acting as a key support, potentially paving the way toward $0.25. DOGE's performance underscores its continued relevance as a cryptocurrency of interest.

Stellar Sails Higher: Could XLM Surge Beyond $0.08?

Stellar's price increased from $0.26 to a high of $0.3597 on July 11, driven by a network upgrade that improved institutional volume. Although there was a slight retracement, XLM is consolidating above $0.30 and looking at further gains.

An expert suggests that if XLM breaks the $0.40 mark, it could potentially reach $0.60 before a significant correction occurs in the short term. However, failure to surpass this level might lead to a retest of the $0.30 level.

As a low gas fee crypto and a cross-chain DeFi project pioneer, Stellar continues to attract attention as a crypto with real utility.

Dogecoin Price and Stellar's performance demonstrate the continued presence of meme coins and Layer-1 networks in the current market environment.