$3.5 Billion in 24 Hours for Dogecoin - What to Expect?

Meme Coin Community Anticipates Dogecoin (DOGE) Rally with Positive Metrics

Cover image via U.Today

The anticipation for a Dogecoin (DOGE) rally has been building within the meme coin community. Although the coin has experienced gains, it remains below previous highs. However, DOGE has exhibited positive momentum in recent days.

Rising Trading Volume

According to CoinGlass, DOGE's trading volume has surged by 33.75% over the past 24 hours, reaching an impressive $3.57 billion level. This surge in trading activity is anticipated to provide a boost to the Dogecoin price.

Bullish Market Sentiment

The increase in trading volume indicates investor enthusiasm and a bullish market sentiment. Buying activity is dominating, with minimal selling pressure observed.

High Correlation with Bitcoin

Dogecoin's price correlation with Bitcoin (BTC) is currently high, at 0.91, as per IntoTheBlock data. Given Bitcoin's bullish trajectory and potential upcoming all-time high, DOGE could also experience significant gains.

Current Price Analysis

At the time of writing, DOGE is trading at $0.1434, up 1.79% over the past 24 hours. The increasing trading activity and strong correlation with Bitcoin raise optimism for further potential gains.