The world’s largest meme coin dogecoin (DOGE) recorded a 33% gain in the last 24 hours. In this context, it exceeded $ 0.1 for the first time since November 2022, fueling the excitement. At the time of writing, DOGE price is trading at $0.125, up 33%, with a market cap of $17.91 billion.
Dogecoin (DOGE) Price Rally
As the DOGE price surpassed 12 cents, 24-hour trading volumes skyrocketed by a staggering 156% to $4.77 billion. Last week DOGE price increased by a staggering 50%. This marked the beginning of the next bull run.
Dogecoin is issuing a two-week supertrend buy signal for the fourth time in its history. Each time this signal has been confirmed in the past, it has led to immediate parabolic price movement for DOGE in the following months. has opened.
#dogecoin for the 4th time in History is flashing a 2 week super trend buy signal. After each buy signal was confirmed it immediately began parabolic price action for the months ahead #DOGE. 10 days to confirm this. #Altcoins #Crypto pic.twitter.com/ra5KOU3o5J
NEWS CONTINUES BELOW— Yomi (@OG_Yomi) February 29, 2024
Additionally, Dogecoin is also witnessing strong whale accumulation. Data from blockchain tracking platform Whale Alert revealed the accumulation of 276.21 million DOGE from Robinhood, an American financial services company.
Koinfinans.com As we reported at Whale Alert’s data, two large whale transactions from Robinhood were responsible for accumulating this significant amount. The first transaction showed that 172.89 million DOGE worth $16.59 million had been accumulated by the address DEndnpPewG…gWLmkNMAtU. Meanwhile, the second transaction showed that the address DGG1Ght6LB…pcSXme8X5S acquired 103.32 million DOGE worth a total of $9.87 million.
DOGE Price Target and Meme coin Rally
Ali Martinez, meme coin He shared a bold prediction, predicting a potential parabolic breakout for . Martinez started from historical chart patterns and the ever-evolving dynamics of the market. In this context, he predicted that Dogecoin could jump to $1.7 by April.
The price action of #dogecoin is showing familiar patterns reminiscent of its 2020 behavior. Back then, $DOGE broke out from a descending triangle, entered a period of consolidation, and then skyrocketed by 28,770%.
Currently, #DOGE appears to be mirroring this pattern: having… pic.twitter.com/69yXnlYRJd
— Ali (@ali_charts) February 23, 2024
The recent Dogecoin price action started a rally in the meme coin space. Shiba Inu also gained 20% in value in the last 24 hours. It is currently trading at $0.00001301 with a market cap of $7.67 billion. Daily transaction volumes also increased by 70%, exceeding $1.5 billion.
Also, recent reports that Shiba Inu Shibarium It shows that it is preparing to introduce a new privacy-centered network on top of the blockchain. This shows that SHIB tokens increase the value proposition. At the same time, Shiba Inu Futures Open Interest increased by a significant 120%. Going forward, Shiba Inu price might target important resistance levels such as $0.0000119, $0.0000158, and $0.000018.
