After the incident, Dogecoin (DOGE) has seen a minor surge, reaching the $0.07 mark once again after four weeks.
Dogecoin (DOGE), the famous memecoin, has made a small comeback, reaching the $0.07 level again after four weeks.
This rise follows the biggest DOGE shorting event of 2023, which happened six days ago and may have influenced the recent price increase. However, despite the positive movement, there hasn’t been much buzz or attention around Dogecoin.
Dogecoin Surges to $0.07 in Mini Run:
Despite Dogecoin’s recent price surge to $0.07, there has been a lack of significant discussions and interest in the cryptocurrency. This surge is believed to be influenced by the largest shorting of DOGE positions in 2023, which may have contributed to the increase in its value.
Trader Kaleo has expressed optimism about Dogecoin’s future growth, citing its gradual upward movement. Additionally, there are reports indicating Elon Musk’s interest in Dogecoin becoming a currency on his multi-purpose app called “X.”
Cryptocurrency analyst Miles Deutscher believes that Pepe ($PEPE) could outperform Dogecoin ($DOGE) in the next cycle. He provided three reasons to support this claim: fewer holders facing losses, Pepe’s newer and more appealing meme, and the potential for a greater price impact with less required liquidity.
Currently, Dogecoin is being traded at $0.06898, showing a slight increase of 0.08% in the last hour, a 0.71% increase in the past 24 hours, and a significant gain of 6.08% over the past week. Its market capitalization is valued at $9,658,894,557, solidifying its position as the leading memecoin in terms of market value.
Dogecoin has experienced a notable increase in trading volume, with $449,222,253 traded in the past 24 hours, showing a substantial surge of 51.68%. It is important to mention that Dogecoin’s highest value to date was achieved on May 8, 2021, reaching $0.7376.
Despite the recent positive trend, the current price remains significantly lower at 90.65% compared to its previous all-time high.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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