Dogecoin Price Prediction as $2.5 Billion Trading Volume Sends DOGE Toward $0.20 – Big Rally Incoming?
As the Dogecoin (DOGE) price is consolidating in the $0.175 area, bulls are eyeing a quick return to $0.20 amid a surge in trading volumes during Asia trading hours.
As per Yahoo data, Monday trading volumes already exceeded $2.5 billion across major exchanges prior to the US market open.
South Korean press reported on Monday that crypto trading volumes in the nation exceeded stock market volumes.
That likely points to a surge in risk appetite amongst Korean retail investors.
If that translates over to the US market on Monday, Dogecoin could soon be about to pump.
And with Bitcoin (BTC) hitting fresh record highs above $72,000, a pickup in risk appetite is very likely.
At current price levels, the Dogecoin price has doubled in the last two weeks.
The price surge comes following Bitcoin price’s seemingly unstoppable rise in recent months, which has seen it pump above $70,000 from under $25,000 as recently as October 2023.
Whilst up until recently Bitcoin was leading the market, meme coins have taken center stage in the last two weeks.
The Dogecoin price is up over 3x versus its 2022 lows around $0.05.
But DOGE is still down more than 75% from its 2021 peaks above $0.74.
As the current crypto bull market matures, the implication is that there remains plenty of room for further upside.
Assuming Bitcoin continues its ascent towards $100,000 in the coming weeks, Dogecoin could continue closing the gap to its ATHs.
2024 could even be the year that it hits $1.0 per token.
That could mean investors who jump into Dogecoin now might still be able to clinch 5-6x gains.
Those are impressive gains for sure.
But many meme coin investors are looking for much bigger upside, for example, in the region of 100x.
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