Dogecoin (DOGE) has recorded a 6% increase in the last 24 hours, despite the overall downturn in the cryptocurrency market. This meme coin continues to attract investor attention.
Reasons for Dogecoin's Price Surge
One key factor behind Dogecoin's price rise is the recent passage of the Genius Act in the U.S. House of Representatives. The new legislation provides clearer rules for digital assets, boosting confidence in the industry. Clearer guidelines may encourage broader adoption of cryptocurrencies like Dogecoin.
Technical Upgrades and Whale Activity
Additionally, Dogecoin's recent partnership with Solana through the Wormhole bridge has provided a significant boost. This integration allows DOGE to be used in decentralized finance (DeFi) applications and NFTs, expanding its use beyond memes and tipping. Moreover, data suggests that large investors are actively buying DOGE, with over 1 billion DOGE purchased recently, worth around $250 million.
Dogecoin Price Predictions
Crypto analysts believe that DOGE could soon test resistance at $0.27. If it breaks and holds above this level, targets of $0.30–$0.36 become feasible, with some even predicting prices over $0.50 if momentum continues.
Dogecoin continues to show growth despite market conditions. The combination of new legislation and rising interest in meme cryptocurrencies supports its popularity among traders.
