Dogecoin (DOGE) Price Prediction: What's Fueling the Rise?

Dogecoin (DOGE) has been making waves in the crypto world again, with its price steadily climbing over the past few days. The Dogecoin price has seen a 3% increase

Cryptocurrency meme coin Dogecoin (CRYPTO: DOGE) continued to gain steam on Friday, with its price rising over the past 24 hours and throughout the week.

What Happened: At last check, DOGE was trading at $0.102, a gain of nearly 3% over the past 24 hours. The price of the meme coin increased more than 7% over the last seven days.

Dogecoin’s price surged on Friday after using the $0.10 level as a launchpad for the recent price increase. This price level acted as both a support and resistance zone in the past.

Now, traders will be watching closely to see if DOGE can push back up to its recent high of $0.111. If the meme coin manages to reach this price again, it could be a signal for more gains on the horizon.

The recent price increase was also accompanied by a significant uptick in trading activity. Spot trading volumes for DOGE increased by 35%, reaching $828 million in the last day alone.

With the surge in trading activity, Dogecoin once again became the most traded meme coin, surpassing Pepe (CRYPTO: PEPE).

Additionally, open interest in Dogecoin futures grew by ۳%, reaching $336 million, suggesting traders are preparing for further price action.

Dogecoin Price Analysis: An Expert’s Perspective

One crypto analyst, @kev_capital_ta on social media, made a bold prediction about Dogecoin’s future price, with nearly 10,000 followers on Twitter.

Kev believes the current price action is the beginning of a much larger rally. He pointed out that key technical indicators, like the monthly RSI and MACD, are still far from the levels seen during previous bull runs.

However, Kev identified a pattern on the monthly chart that has played out twice before, each time leading to a significant rally for DOGE.

If this pattern were to play out again, we could see the price of Dogecoin hit $2.27 by Q1 2025 — or even as soon as December of this year, according to Kev.

This would be a massive price increase of over 2,061% from where Dogecoin is currently trading.

Of course, predicting the future price of meme coins like Dogecoin is always challenging, but this analysis has certainly grabbed the attention of many traders and investors.

With the price of Dogecoin on the rise and such optimistic predictions from analysts, DOGE is definitely a coin to watch.

What’s Next for Dogecoin and Other Meme Coins?

While Dogecoin is currently leading the charge, many traders are also looking at other meme coins that might be next in line for a surge.

One project that has caught a lot of attention is PlayDoge (CRYPTO: PLAY).

This new project combines the fun and appeal of memes with Play-to-Earn (P2E) mechanics, offering something unique in the crowded meme coin market.

PlayDoge’s gameplay takes inspiration from the nostalgic Tamagotchi craze of the 1990s, but with a modern crypto twist.

Players can adopt a virtual Doge that they need to care for, playing games with it to earn PLAY tokens.

This combination of nostalgia and earning potential has made PlayDoge stand out from the crowd.

The project has already raised $6 million during its presale, showing strong demand from the crypto community.

According to reports, PlayDoge also offers a staking protocol with an estimated annual yield of 77%, which has further attracted investors.

As PlayDoge continues to gain traction, some believe it could be the next big meme coin to watch.

While Dogecoin is enjoying its moment in the spotlight, there’s a chance that PlayDoge could become a star in its own right later this year.

See More: Best Meme Coins Right Now

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