Benzinga - Dogecoin (CRYPTO: DOGE) has surged 40% in weekly gains, with a 15% rally in the past 24 hours as whale transactions and daily active addresses grow, signaling potential bullish momentum.
What Happened: Dogecoin20, an Ethereum-based Dogecoin derivative, secured $10 million in its presale within a week. Scheduled for launch on April 20, also known as Doge Day, it aims to implement a capped token supply model for long-term value retention.
Benzinga’s Future of Digital Assets conference will, among other topics, discuss whether meme coins are the future of digital asset investments.
IntoTheBlock data shows a 92.8% increase in large transaction volumes for Dogecoin, reaching $5.29 billion, and a 13.5% surge in daily active addresses, totaling 199,190. Investor interest remains strong, with 6.27 million addresses, as reported by U.Today.
Data from IntoTheBlock reveals a 92.8% increase in large transaction volumes for Dogecoin, reaching $5.29 billion. Additionally, there has been a 13.5% surge in daily active addresses, now totaling 199,190. With a total of 6.27 million addresses, investor interest in Dogecoin remains strong, as reported by U.Today, citing IntoTheBlock data.
Whale Alert reported a 250 million DOGE ($49.5 million) transfer from an unknown wallet to Robinhood, sparking speculation among traders.
Also Read: Crypto Traders’ Secrets – How $100K In Dogecoin And Dogwifhat Could Mint $1M
Why It Matters: Optimism in the Dogecoin community has been fueled by Elon Musk‘s payment company obtaining licenses in three more states last week.
Dogecoin has rallied 15% in 24 hours, with a 100% expansion in trading volume. Its market cap has crossed $30 billion for the first time in over two years.
Economist and trader Mikybull Crypto forecasts a potential price range for Dogecoin between $0.465 to $1, supported by a rare Adam and Eve pattern indicating a bullish reversal.
Economist and trader, Mikybull Crypto, in a recent tweet, forecasts a potential price range for Dogecoin between $0.465 to $1. This optimism is further supported by the emergence of a rare Adam and Eve pattern, indicating a bullish reversal after a prolonged downtrend.
$DOGEOn a macro scale, it is breaking out of the rare bullish Adam&Eve pattern.