Price: $0.38250 0.1343%
Market Cap: 56.19B 1.7251%
Volume (24h): 8.07B 0.4%
Dominance: 1.7251%
Price: $0.38250 0.1343%
Market Cap: 56.19B 1.7251%
Volume (24h): 8.07B 0.4%
Dominance: 1.7251% 1.7251%
  • Price: $0.38250 0.1343%
  • Market Cap: 56.19B 1.7251%
  • Volume (24h): 8.07B 0.4%
  • Dominance: 1.7251% 1.7251%
  • Price: $0.38250 0.1343%
Home > Information news > DOGE to Trade Between $2-4 As the Meme Coin Gained 150% Over Trump Win

DOGE to Trade Between $2-4 As the Meme Coin Gained 150% Over Trump Win

Release: 2024/11/13 18:08 Reading: 775

Original author:Yellow News

Original source:https://coinmarketcap.com/community/articles/6734705d5d9ce535c9b44b42

DOGE to Trade Between $2-4 As the Meme Coin Gained 150% Over Trump Win

Dogecoin Surges after US Election Results

In the wake of Donald Trump's electoral victory, Dogecoin (DOGE) has emerged as the top-performing cryptocurrency this month amid a broader crypto market rally. The meme coin soared by 50% in the 24 hours leading up to November 12th, surpassing the $0.4 mark last seen in 2021.

Dogecoin's weekly surge exceeded 150% on November 12th, propelling it to the sixth position in the crypto rankings. This surge indicates renewed interest in DOGE among retail investors.

According to IntoTheBlock data, Dogecoin recorded over 6 million transactions during the US election week, the highest level of activity since February. This suggests that retail investors have been quietly accumulating DOGE, contributing to the bullish momentum.

Santiment data also reveals an uptick in Dogecoin activity in the past month. The number of crypto wallets holding less than 100,000 DOGE tokens has grown to 74,885, an indication that small retail investors are investing in the meme coin.

The influx of retail investors into the Dogecoin market reflects a broader trend of retail participation in the market following recent price gains.

While retail wallets increased, larger wallet holders, such as crypto whales and sharks, have decreased to 350, with some recently rejoining the Dogecoin network. This may have contributed to the meme coin's breakout above the $0.4 level.

According to Santiment, a combination of institutional and retail investor support is crucial for sustained Dogecoin momentum. The current rally's sustainability will be tested in the coming days as analysts monitor the behavior of crypto whales and sharks.

Presently, the Dogecoin rally is driven by optimism surrounding Elon Musk's support for Trump and speculation about his potential role in the Trump administration. The price rise has led some crypto traders to bet on Dogecoin potentially reaching $1, a milestone not reached since it crossed $0.7 in 2021.

The "doge to $1" meme has gained traction, and the golden cross pattern on the weekly Dogecoin price chart suggests a positive outlook for the fourth quarter, with some analysts predicting targets of $2 to $4. Others have speculated that the meme coin could reach $30 by March 2025.

As of November 13th morning, DOGE traded at $0.36, down 11% over the past 24 hours. However, trading volume surged by 30% to $36.42 billion, and the market capitalization stood at $55.43 billion.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.