Dogecoin Price Prediction as $3 Billion Floods In – $10 DOGE Incoming?
DOGE has gained by 5% in the past 24 hours, with the Dogecoin price reaching $0.1651 as the cryptocurrency market also rose by 5% today.
Despite today’s lift, Dogecoin remains down by 20% in a week, with the meme coin up by only 2% in the last 30 days.
Yet its trading volume has climbed beyond $3 billion in the past few days, as traders look to buy up the token at a discount.
And with the market looking like it’s ready to rally again after the weekend’s dip, DOGE could see further gains in the very near future.
DOGE’s chart shows that the coin had hit a bottom over the weekend, and that today’s recovery should continue for at least a few days yet.
After falling well below its 200-day average (blue) last night, the coin’s 30-day average (orange) has begun rising encouragingly, with plenty of room left to rise.
Similarly, DOGE’s relative strength index (purple) has risen to 60 after touching 20 (twice) over the weekend, a sign that buying pressure has returned to the token, and this pressure could continue boosting its price.
As noted above, Dogecoin’s trading volume has recovered strongly in the past few days, although it’s still some way from where it was in early March (when it passed $8 billion).
It seems that whales expect the coin’s price to continue rising in the near future, with at least one whale moving their stash of DOGE to an exchange recently.
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