dogecoinmanaged to strengthen its bullish outlook in the last 24 hours. After starting the day at $0.1986, Meme coin rose to $0.2266, its highest level since 2021. This increase comes amid rising trading volumes and speculation surrounding DOGE’s potential integration into Elon Musk-owned social media platform X.
The increase in Dogecoin’s price in the last 24 hours was accompanied by a 17% increase in trading volumes, with trading volume reaching $5,869,996,594, with its market cap increasing by 6% to the same level. This increase in trading activity indicates increased investor interest and participation in the DOGE market and supports the upward momentum of the cryptocurrency.
Additionally, futures tracking Dogecoin witnessed a surge in open interest, climbing to nearly $2 billion across various crypto exchanges. This increase in open interest indicates increased bets on price volatility and reflects traders’ confidence in Dogecoin’s potential price movements. This development shows that there is a growing interest in the future price movements of DOGE and traders are willing to take positions on this issue.
Speculation regarding Dogecoin’s potential integration into social media platform X has been circulating within the Dogecoin community, with prominent members meme coin‘s posts discussing his use of the platform. is feeding. Elon Musk’s endorsement of DOGE further fuels this speculation given his ownership of X and his previous support for the cryptocurrency.
Would you use $DOGE for tipping or payments on X? pic.twitter.com/RV0zKgsiC1
NEWS CONTINUES BELOW— CEO (@Investments_CEO) March 29, 2024
As Koinfinans.com reported, significant whale activity in Dogecoin also attracts attention. Whales gained attention by transferring approximately 200,000,000 DOGE tokens (worth $43,026,934) from an unknown wallet to Robinhood.
