DOGE has gained by 1% in the past 24 hours, with the Dogecoin price moving to $0.1576 as the wider crypto market barely moves today.
Dogecoin has now fallen by 16% in a week, although it remains up by 6.5% in the last 30 days and by 66% in a year.
But given that it’s still 78% down from its all-time high of $0.7316 (from May 2021), it still has plenty of space for further gains this year.
These may come sooner rather than later, with the incoming Bitcoin halving potentially increasing market bullishness that could feed into DOGE.
Dogecoin Price Prediction as Bulls Hold $0.15 Level – Time to Buy?
It looks as though DOGE is slowly regathering strength after spending much of the past week struggling, with its indicators showing tentative signs of recovery.
Its relative strength index (purple) has climbed over 50 and is overdue a comeback, one which should last as long as the period it has spent below 50.
Source: TradingView
DOGE’s 30-day average (orange) has begun inching upwards after spending a similar length of time falling, again offering a signal that the coin is about to stage some kind of recovery.
At $2.2 billion, DOGE’s 24-hour volume is still much higher than the levels recorded in January and February and suggests ongoing interest in Dogecoin.
The past week has actually seen several large transfers of DOGE off of exchanges, including several away from Robinhood.
150,000,000 #DOGE (23,283,510 USD) transferred from #Robinhood to unknown wallethttps://t.co/hPn7EU29eW
— Whale Alert (@whale_alert) April 15, 2024
This indicates that some whales have resumed accumulating the token in the expectation of incoming rallies, and given that DOGE has held well to the $0.15 level, it could rebound soon.
A strong rally for DOGE will come from one of two possible sources, or potentially a mix of both.
On the one hand, a market-wide rally – perhaps following from Bitcoin halving-related bullishness or an improving macroeconomic picture – will lift DOGE along with other coins.
On the other hand, the Dogecoin price may also benefit specifically from attention from Elon Musk, who recently boosted the coin in a characteristic tweet.
Not only will recurring DOGE-promoting comments boost the coin, but X’s eventual rollout of digital payments may also raise volumes later in the year.
If so, DOGE could ascend to $0.4 in the second half of 2024, before potentially finishing the year by breaking its record high.
A New Doge for A New Bull Market
While Dogecoin struggles to reclaim former heights, many traders may prefer to buy newer meme tokens that show more potential for bigger gains in the near term.
One such token that shows plenty of promise right now is Dogeverse (DOGEVERSE), a multi-chain cryptocurrency that has raised $6 million in its ongoing presale.
Embarking on a journey through the #DOGEVERSE, the pioneering multi-chain #Doge #Token, inspired by #Cosmo‘s epic adventures.
Leading in #Blockchain connectivity, uniting diverse #Crypto communities with Doge memes and a vision of a unified ecosystem across chains! pic.twitter.com/Woe1wYvxqh
— DogeVerse (@The_DogeVerse) April 16, 2024
Launching on Ethereum, Dogeverse will soon after bridge to Polygon, BNB Chain, Solana, Avalanche and Base, becoming the first multi-chain Doge-themed crypto.
Its existence on multiple chains will provide it with much wider application and utility than many of its rivals, with the coin likely to be used on numerous exchanges and platforms.
This will all help to boost demand for the token and, by extension, its price.
Another big help in this regard will come from DOGEVERSE’s deflationary tokenomics, with the token’s supply capped at 200 million.
Rising demand will therefore boost DOGEVERSE’s price over time, and with the token also open to staking, it could experience some very impactful supply squeezes.
Investors can join the coin’s sale by going to the official Dogeverse website, with its rapidly rising raise total suggesting that the offering may not last for much longer.
1 DOGEVERSE currently costs $0.000296, with this price set to rise to $0.0000297 tomorrow.
Such a price may rise dramatically once Dogeverse launches and lists, given its impressive roadmap and fundamentals.
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