Dogecoin Price Surges 15%: Current Situation Reviewed

user avatar

by Giorgi Kostiuk

2 years ago

Memecoins are experiencing significant price rallies as we enter the new year. Dogecoin price surged 15%, breaking a month-long downtrend.

Dogecoin Price Increase

According to CoinMarketCap, Dogecoin price increased by around 15% today. The DOGE token is trading at $0.391, slightly below the $0.4 price level. Trading volume surged by over 120%, with a market cap standing above $57.67 billion, marking a 15% rise.

Whale Accumulation of Dogecoin

One of the major reasons behind the DOGE price surge is whales accumulating over 1.08 billion Dogecoin tokens. Based on market analyst Ali Martinez's X post, whales holding between 10 million to 1 million DOGE tokens have made this purchase. The collective tokens held by whales reached 46.36 billion.

Potential for New ATH

The renewed interest in Dogecoin made it the top trending token on CoinMarketCap. If Dogecoin surpasses the key resistance level at $0.41225, the price rally could continue, increasing hopes for a new ATH. However, if it fails to cross this resistance, a consolidation period might follow with key support at $0.32190.

As the top memecoin by market capitalization, Dogecoin's price rise seems imminent in 2025, potentially leading to a new ATH if the market sees an overall increase.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Analysts Identify Bullish Checkmate Setup for Bitcoin

Crypto trader Cheds Trading has highlighted a potential bullish checkmate setup on Bitcoin's 4-hour chart, suggesting that reduced selling momentum could lead to a significant price increase if buyers step in.

user avatarKaterina Papadopoulou

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.