Claim BonusDogecoin (DOGE) Rallies Over 10% For Second Day, Huge Whale Transactions
The world’s largest memecoin is currently on a roll gaining more than 10% for the second consecutive day! As of press time, DOGE is trading 15% up at a price of $0.075 with a market cap of just under $10 billion.
this is for the first time in ten weeks that the DOGE price is trading above $0.07. The recent DOGE price rally comes amid huge whale transactions. As per on-chain data provider Santiment, there have been more than 420 DOGE whale transactions each valued at over $100K. Also, the trading volume for Dogecoin (DOGE) has reached a staggering $1.18 billion. The data provider notes:
Dogecoin rose above $0.072 for the first time in 10 weeks on the tail end of #Ethereum‘s own breakout the past couple days. Both $DOGE whale transactions & trading volume spiked to August levels. Markets generally polarize when #memecoins decouple.
Some market analysts believe that the recent Dogecoin (DOGE) rally comes as Elon Musk is likely to conclude the Twitter deal this week, as per Bloomberg. Thus, the Dogecoin community could be cheering that the deal could pave way for DOGE transactions on Twitter.
Twitter deal likely to close on Friday. Dogecoin adoption is expected to get a big boost after this deal. Dogecoin Tip Jar & Doge Payments for Twitter Blue soon? 👀 @elonmusk pic.twitter.com/u7Npc9XXKQ
— DogeDesigner (@cb_doge) October 25, 2022
Elon Musk has been the biggest proponent of Dogecoin (DOGE) over the last few years and believes that the meme cryptocurrency is better than Bitcoin for conducting daily payments.
Dogecoin (DOGE) Price Rally to Continue
In the last 48 hours, the DOGE price has shot up by more than 25% with its valuation soaring to $10 billion in a while. Still, Dogecoin (DOGE) is trading at more than a 90% discount from its all-time high of $0.73 last year in May 2021.
As per the technical chart setup, the DOGE price rally could continue going ahead. The DOGE price has given a successful breakout from its descending resistance line. The DOGE price has been paying respect to this line for nearly 18 months now. Now, the next resistance for DOGE is all the way to $0.88.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Strategic Bitcoin Reserve: South Dakota Introduces Bill to Invest in BTC as U.S. States Explore Crypto
- Trump Speech in Iowa Today: Possible Impact on Stocks and Crypto Market
- XRP Payments Utility Expands as Ripple Launches Treasury Platform
- Trump’s Crypto Adviser Confirms Probe Into Alleged Theft From U.S. Crypto Reserve
- Federal Reserve to Hold Interest Rates Until June, Crypto Traders Predict
- Shiba Inu Price Outlook As SHIB Burn Rate Explodes 2800% in 24 Hours
- Pi Network Price Prediction as 134M Token Unlock in Jan 2026 Could Mark a New All-Time Low
- Bitcoin Price Outlook as US Dollar Index Hits 4-Year Low, Gold Soars
- Stock Market Today: Nasdaq, Dow, S&P 500 Futures Rise Ahead of Fed Meeting, and Jobless Claims
- Bitcoin And XRP Price Prediction Ahead of FOMC Meeting Tomorrow, Jan 28
- XRP Price Prediction as Ripple Scores Big Partnership in Cash-Rich Saudi Arabia
