The Dogecoin price has risen by 3% today, reaching $0.1949 on a day when the cryptocurrency market as a whole gains by 1% in 24 hours.
This puts DOGE up by 7% in a week and by 14% in the last 30 days, with the meme token enjoying a nice 128% gain in a year.
Such performance has enabled Dogecoin to rank higher than Cardano (ADA) in terms of market cap, with the meme token now sitting at ninth overall.
It’s likely to continue rising as the wider market goes through more bullish phases this year, with the distant possibility of DOGE payments on X potentially sending it into orbit.
Dogecoin Price Prediction as DOGE Ranks Higher Than Cardano – Can DOGE Overtake XRP Next?
DOGE’s chart suggests that the coin is in the middle of an upswing, one which may continue for a day or two yet.
Having risen back above the 200-day average (blue) yesterday, the 30-day average (orange) not only continues to rise, but may rise further before running out of gas.
Source: TradingView
Likewise, DOGE’s relative strength index (purple) has recovered in the past day and, despite a stumble this morning, has picked up again.
This points to rising momentum, with DOGE’s 24-hour trading volume reaching $3 billion today.
This is up from $1.8 billion a few days ago, suggesting that buyers are returning to DOGE and taking the opportunity to buy it at a relative discount.
Indeed, data has shown a few large transfers off exchanges this week, meaning that we are in the middle of an accumulation period.
67,691,784 #DOGE (13,742,462 USD) transferred from #Robinhood to unknown wallethttps://t.co/CztGSaDKei
— Whale Alert (@whale_alert) April 8, 2024
This bodes well for the Dogecoin price in the near and medium term, with April 20’s Bitcoin halving potentially providing a spur to the wider market as a whole.
While some have warned that the halving will result in a dip in the shorter term, it’s likely to be bullish overall, with the wider market benefitting from BTC’s growth.
This will include Dogecoin, which later in the year could potentially benefit from its own news.
Namely, we may eventually see X follow through with its plans to roll out digital payments on its social network, payments which may include crypto.
And if they do include crypto – and DOGE – then the Dogecoin price could rally massively.
In a best case scenario, it could reach $1 following the launch of X payments, whereas delays to this may see it reach only $0.4 by the second half of 2024.
New Dogecoins for New Market-Beating Rallies
Dogecoin is such a well-established alt now that it may not experience any really big rallies this year (unless DOGE payments come to X).
As such, traders looking for outsized returns will probably have to search elsewhere, potentially in the area of newer meme tokens and presale coins.
One example that is both a meme token and a presale coin is Dogeverse (DOGEVERSE), a multi-chain meme token that has raised over $1.7 million in its sale.
Get ready for another cosmic journey as #DOGEVERSE rockets across the multichain universe!
Surpassing the $1.7M milestone! #Cosmo sincerely thanks all the #Doge fans for their incredible support!
We’ve now entered Stage 3! pic.twitter.com/PajP2lxsrU
— DogeVerse (@The_DogeVerse) April 11, 2024
This is a highly impressive figure for a sale that opened only this week, with Dogeverse attracting investors by virtue of its interesting features and fundamentals.
As a multi-chain cryptocurrency, it will launch on Ethereum, before moving to Polygon, BNB Chain, Solana, Avalanche and Base.
This will provide the token with very wide applicability, meaning that it could find use on multiple apps within multiple ecosystems.
Combined with its capped supply of 200 million tokens, such demand could see it become deflationary very quickly, with its price rising steadily over time.
5% of its supply will go to the presale, 10% going to staking, 50% to project funds and marketing, 15% to liquidity and exchanges, and 10% to its community.
The ability to stake DOGEVERSE should provide another strong source of demand, while also taking more tokens out of circulation.
The #DOGEVERSE sets a new standard for #Crypto #Tokens!
Buying and #Trading $DOGEVERSE across six major #Blockchains, amplifying Cosmo’s vision of a unified crypto verse.
From #DEXs to #CEXs, join our #Memecoin enthusiasts and explore #Blockchain adventurers worldwide! pic.twitter.com/lYgZszersR
— DogeVerse (@The_DogeVerse) April 10, 2024
Given such tokenomics, it’s no wonder that investors are flocking to its presale, with newcomers able to join via the official Dogeverse website.
1 DOGEVERSE currently costs $0.000292, a price will rise with each successive stage of the presale, and which could end up being eclipsed once the token lists.
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