This coin has seen an increase of 1.9% within the last 24 hours. The nearly 8% increase in its value this week shows that DOGE is recovering from its recent decline and is seeing an increase in trading volumes. Is. And investors are investing their money in it Trading activity for the cryptocurrency has increased by more than 130% in the past day, allowing Dogecoin to regain its place in the top 10 cryptocurrencies. Since Dogecoin has attracted the attention of both enthusiasts and investors, people’s attention has been focused on the price of this coin.
At the time of writing, its price is trading at $0.08836, which is an increase of 1.29% in the last 24 hours. Investors are seeing a lot of fluctuations in the prices of this coin. DOGE coin has seen a 6.26% increase in the last week and a 9% increase in its value over the month respectively. The coin saw a 133% increase in trading activity in the last 24 hours, bringing its trading volume to $867,010,531. And its capitalization increased by 1.04% over the last 24 hours to $12,490,187,83 and is ranked 10th according to Coinmarketcap.
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Is Dogecoin’s bullish moment near
Dogecoin is currently displaying bullish signs, trading above the $0.08713 area against the US Dollar. The price has established a 4-hour candle at the $0.0880 level, indicating positive momentum in the market. Furthermore, on the 4-hour chart, the price broke a key contracting triangle with the resistance at $0.0842, increasing optimism among traders that there is a possibility for Dogecoin to extend its rally to the $0.1500 resistance level in the near term. Is. And ready to move upwards. At this time people are feeling that they should invest in DogeCoin.
Reasons for increasing the price of Doge coin
Ferrari and Doge coin
People are speculating about a deal between Dogecoin and Ferrari. There are rumors that the luxury car manufacturer is trying to get US customers to pay with Dogecoin. You can get a Ferrari car at an even discount. Our company will accept Dogecoin as its form of payment. These unconfirmed rumors have created excitement in the crypto community. The demand for Dogecoin has been created and increased. There is movement in the price of coins
The rumor that Dogecoin could potentially be adopted by Ferrari shows that people are feeling a new energy and acceptance. It is trying to highlight the utility and validity of the digital currency, which is emerging as a new option of payment mainly for luxury products like high-end cars. If this rumor turns out to be true then the price of Dose coin may go up to $5.
Doge coin price rises amid Bitcoin bull run
Ever since Bitcoin has crossed 50 thousand dollars, Dogecoin is witnessing a rise due to its impact. Bitcoin’s recent rally, known as Spot Bitcoin, has seen heavy trading in Bitcoin ETFs in the US, including Dogecoin. The correlation between Bitcoin’s growth and Dogecoin’s price pump is looking positive for the broader cryptocurrency market. The halving event is more optimistic for people who have invested more in cryptocurrencies.
Dogecoin Whale Activity
Whale Activity People who hold large stakes in DogeCoin are commonly referred to as “Dogecoin whales”, with “whales” being responsible for most of the increase in DogeCoin’s price. Whale transactions with substantial amounts of coins have attracted the attention of investors and enthusiasts. These transactions of several lakhs of DOGE coins have created a stir in the entire market, due to which new investors are also investing their money but at this time new investors should not invest their money because it may cause them loss. It is possible that when “whales” sell their coin at a fair price, the coin suddenly starts falling downwards. Be careful in such times.
Because whales who only see their profits invest their money in the biggest bullish periods so that people do not notice, whales take advantage of the times when investors cannot see that a coin is rising so they put their money into it. Let’s invest. They invest money, due to which they suffer losses later.
If you do daily trading then you would know that recently the price of Gas Coin has started increasing. The price of this coin went from $5 to $30 within a week but you may have suffered a big loss because of this coin, I kept it with me and I had to suffer a huge loss. Why did some people buy this coin for $15 even after seeing the rise? After pumping this coin suddenly it got dumped and it suddenly fell below $10.
You can guess about whale from this
Doge coin Foundation Said
The Doge coin Foundation shared plans to increase Doge coin adoption and growth, including expanding integration with e-commerce platforms like Shopify and allowing people to accept Dogecoin as payment. Initiatives like this show a commitment to enhancing its practical utility. Now cryptocurrency coin will also be made available as a form of payment in everyday life.
In the coming time, it can prove to be very good for the people and can also become quite popular because if someone accepts the coin as payment. So obviously its price will increase but if someone has already participated in such coin then there can be a lot of loss also. Why would a person committing payment fraud open his pocket and this coin would suddenly fall.
Conclusion
The recent price rise of Dogecoin can be attributed to whales, as people see it as a speculation, so first gather good data about it and only then make your investment, otherwise you will face huge losses . I told you about the Gas Coin which was promoted by Whale, this coin suddenly boomed so much that people started buying it and its price started increasing very fast, after which this coin suddenly started falling. Small investors did not even realize when it went from $30 to $10. Therefore, be cautious of such coins.