Dogecoin (DOGE) experienced a slight rise and recovered the level of US $0.07 for the first time in four weeks after the event
Dogecoin (DOGE) experienced a slight rise and recovered the level of US $0.07 for the first time in four weeks after the event.
Popular memecoin Dogecoin(DOGE)Having experienced a slight increase,For the first time in four weeksReclaim the level of $0.07. The surge comes after the largest short selling event in 2023 that occurred six days ago, which may have led to the recent price increase. Despite the positive changes, the level of discussion and interest around Dogecoin is still relatively low.
Dogecoin mini run to $0.07
Santiment, the market intelligence platform, observed that although the price of Dogecoin has soared recently, the discussion and interest around this Cryptocurrency are still very low. They attribute this growth to the largest short position in DOGE in 2023, which may have driven up prices.
Recently, trader Kaleo posted a tweetChina expressed confidence in the upcoming rise of DOGE and emphasized the current slow but stable upward trend of the Cryptocurrency.
Interestingly, it is reported that Elon Musk, a famous entrepreneur and Tesla CEO, hopes that Dogecoin will become the currency on his "everything application" X.
Can PEPE surpass DOE?
Miles Deutscher, a famous Cryptocurrency analystrecentlyHe expressed his belief that in the next cycle, Pepe ($PEPE) has the potential to surpass Dogecoin ($DOGE). Doitsch providedThree reasonsTo support this claim: fewer underwater holders, fresher meme attractiveness of Pepe, and lower required liquidity may have a greater price impact.
So far, the transaction price of Dogecoin is 0.06898 dollars, up 0.08% in the past hour, up 0.71% in the past 24 hours, and up 6.08% in the past week, which is impressive. Its market value is $9658894557, continuing to maintain its position as the largest memecoin by market value.
From the perspective of trading volume, the trading volume of Dogecoin increased significantly, and the trading volume in the past 24 hours was $449222253, an increase of 51.68%. However, it is worth noting that the historical peak of the Dogecoin is US $0.7376 on May 8, 2021. Despite the current positive trend, the current price is still 90.65% lower than the historical peak.
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