Dogecoin Price Prediction as DOGE Remains Largest Meme Coin in the

Original author：Crypto World Daily

Original source：https://www.youtube.com/embed/uWYafMoxRr0

Simon Chandler

Last updated:

April 8, 2024 09:26 EDT

| 3 min read

DOGE has jumped by 6% in the past 24 hours, with the Dogecoin price reaching $0.2059 today as the imminent Bitcoin halving provokes market-wide optimism.

This move means that DOGE has gained by a modest 1% in a week but by a more impressive 24% in the last 30 days, with the alt remaining the largest meme token in the market by cap.

What’s potentially bullish is that DOGE is still 71% down in relation to its all-time high of $0.7316, implying that the market continues to undervalue the token.

As such, it could have some big, market-beating gains in store in the near future, with the aforementioned halving helping it to rally further in the next week or so.

Dogecoin Price Prediction as DOGE Remains Largest Meme Coin in the World – $1 DOGE Possible in April?.

Dogecoin’s chart is in a bullish position, although based on recent movements, it may dip a little today before seeing another gain.

Its relative strength index is dipping again after touching 70 earlier this morning, although this could be only a short-lived dip, perhaps to 60 or 55.

At the same time, DOGE’s 30-day average (yellow) continues to climb well beyond the 200-day (blue), a sign that it’s in the middle of a growth spurt that could continue for a little while yet.

DOGE’s 24-hour trading volume has also risen in the past couple of days, moving from $1.7 billion late on Saturday to around $2.68 billion today.

This signals a significant surge in interest in the token, with the past few days seeing some whales take DOGE off exchanges.

As such, we can expect the Dogecoin price to see at least one or two more rallies en route to the Bitcoin halving, which will happen on April 20.

The halving is already boosting BTC and the wider market at the moment, and in the longer term it could help inaugurate another big bull market.

As the market’s biggest meme token, DOGE will ride this wave, while it may also continue to benefit specifically from support from Elon Musk and X.

X has been patiently applying for and receiving money transmitting licenses in the US in recent months, with the platform planning to roll out digital payments sooner or later.

Assuming that X includes DOGE payments in its plans, then the Dogecoin...

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