Dogecoin Price Surges as Whale Interest Inspires Accumulation
The price of Dogecoin has increased by 4% in the past 24 hours, reaching a daily high of $0.0779. This surge in price is attributed to the interest of crypto whales, which has inspired other community members to start accumulating DOGE. However, despite the price increase, the daily trading volume for Dogecoin is still slightly lower than yesterday at $345 million.
Dogecoin Price Prediction
Analysts have noted the high activity surrounding Dogecoin recently, resulting in significant volatility over the past few weeks. One analyst, Ali Martinez, believes that this increased activity indicates a setup for a massive surge in the meme coin. Martinez highlights that DOGE has seen transactions exceeding $100,000 in the last month, suggesting increased interest from institutional investors and whales. This could potentially lead to a significant price spike in the future.
#Dogecoin | There’s a notable surge in $DOGE transactions exceeding $100,000 in the past month, consistently hitting new highs.
This uptick suggests increased interest in #DOGE from institutional players and whales, potentially gearing up for a significant price spike. pic.twitter.com/UpxVkfu9hW
— Ali (@ali_charts) November 23, 2023
Another crypto strategist, Kaleo, shares a similar bullish sentiment towards Dogecoin, predicting a massive rally in the near future. Kaleo suggests that the rally could happen within the next week or two and could push the token’s price from $0.07 to at least $0.15, doubling its value.
Here’s my playbook for $DOGE:
Sometime in the next week or two, Dogecoin finally starts to move.
When DOGE starts moving higher, it usually moves pretty fast. I wouldn’t be surprised to see a daily from here to somewhere in the 9 – 10 cents range, chop there for a bit, then… pic.twitter.com/BN1AqSe8d2
— K A L E O (@CryptoKaleo) November 9, 2023
Kaleo believes that once the price reaches $0.15, it may go slightly higher, but not much. The expert suggests that the current maximum potential for the price is twenty cents per coin. However, Kaleo expects a real DOGE rally that could take the coin to $1 and beyond in 2024. Until then, he emphasizes the possibility of having some fun with the meme coin.
Kaleo also points out that DOGE’s performance in November 2023 is similar to its behavior before the significant surge in spring 2021, indicating that a surge might be on its way.
DOGE Alternative: Meme Kombat Presale Hits $2 Million Raised
In addition to Dogecoin, another meme coin called Meme Kombat has gained attention in the crypto industry. Meme Kombat aims to challenge established meme titans like DOGE by offering an innovative platform for gaming enthusiasts. The project has already raised $2.07 million through its presale.
The token’s price currently sits at $0.214, and within a week, it is expected to increase to $0.225. This presents an opportunity for buyers to acquire the token at a lower price by exchanging ETH or USDT.
Hot Take: Dogecoin’s Potential Surge and Meme Kombat’s Rising Presele
The recent surge in Dogecoin’s price, fueled by whale interest and increased transactions, suggests that the meme coin may be on the verge of a significant rally. Analysts predict that Dogecoin could reach $0.15 in the near future, doubling its value. However, experts believe that the ultimate rally to $1 and beyond may not occur until 2024. In the meantime, investors can still have fun with the meme coin’s potential fluctuations. Meanwhile, Meme Kombat, an alternative meme coin, has gained traction with its innovative gaming platform and has raised $2 million in its presale. As it prepares for further growth, Meme Kombat poses as a challenger to established meme titans like Dogecoin.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.