Dogecoin

Kevin

Shiba Inu

Billion

<p>The post <a href="https://coinpedia.org/news/dogecoin-doge-hits-1-09-billion-in-trading-volume-is-a-bull-run-on-the-horizon/">Dogecoin (DOGE) Hits $1.09 Billion in Trading Volume: Is a Bull Run on the Horizon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-analysis/dogecoindoge-price-preparing-for-a-fresh-move-may-reach-0-5-in-the-next-few-months/" target="_blank" rel="noreferrer noopener">Dogecoin (DOGE)</a>, the meme-inspired cryptocurrency that originally gained fame for its Shiba Inu logo, has experienced an impressive 146% increase in trading volume. In just 24 hours, the token’s trading volume surged to a remarkable $1.09 billion.&nbsp;</p> 
<p>This sharp rise reflects a growing interest from investors, as Dogecoin continues to attract attention with its playful charm and strong community support.</p> 
<h2 class="wp-block-heading" id="h-dogecoin-trading-volume-surge">Dogecoin Trading Volume Surge</h2> 
<p>Dogecoin (DOGE) is making headlines with an <a href="https://app.intotheblock.com/coin/DOGE" target="_blank" rel="noreferrer noopener nofollow">impressive $1.09 billion</a> in large transactions over the past 24 hours. This spike in activity, amounting to around 8.61 billion DOGE, signals growing interest from big investors and institutions.&nbsp;</p> 
<p>This surge comes at a time when the broader crypto market is facing a downturn, with Bitcoin’s recent drop and speculation about potential sales of U.S. government-held cryptocurrencies adding to the uncertainty.</p> 
<p>While Dogecoin enjoys increased transaction volume, it’s also feeling the effects of the current market decline. Bitcoin’s recent fall to about $65,000 has influenced the entire crypto space, including Dogecoin, which has been on a losing streak. Over the past four days, <a href="https://coinpedia.org/price-analysis/dogecoin-doge-price-poised-for-10x-rally-in-next-2-3-weeks/" target="_blank" rel="noreferrer noopener">Dogecoin’s price</a> has dropped, though it recently showed some signs of bouncing back.</p> 
<h2 class="wp-block-heading" id="h-is-bull-run-near">Is Bull Run Near?</h2> 
<p>Meanwhile, crypto trader Kevin believes the bullish rally might be nearing, based on the latest Dogecoin/Bitcoin chart. He pointed out a recent bullish signal from the 3-day Moving Average Convergence/Divergence (MACD) indicator, which previously led to a 100% surge for DOGE against BTC within 60 days.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> vs <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> chart just saw a fresh 3 day MACD cross to the upside. The last time we saw this cross <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> pumped 100% against BTC showing a big outperformance in a 60 day span. With a potential Fed pivot coming and BTC dominance getting close to macro target is <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a>… <a href="https://t.co/f7O6Erpioo">pic.twitter.com/f7O6Erpioo</a></p>— Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1818320343448113192?ref_src=twsrc%5Etfw">July 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Kevin also noted that changes from the Federal Reserve and Bitcoin’s dominance reaching a key level could boost altcoins soon. However, he advises investors to stay patient.</p> 
<h2 class="wp-block-heading" id="h-what-s-next-for-dogecoin">What’s Next for Dogecoin?</h2> 
<p>Looking at the technical analysis, if Dogecoin can maintain the 50-day SMA as support, it might see a bounce back towards higher levels, potentially reaching the 200-day SMA at $0.134. A sustained rally could push the price up to $0.14 and even $0.18.</p> 
<p>On the other hand, if the price falls below the $0.12 support level, it could lead to further declines, possibly dropping to $0.10. However, <a href="https://markets.coinpedia.org/dogecoin/" target="_blank" rel="noreferrer noopener">Dogecoin</a> is still down 1.6% in the last 24 hours and 5.42% over the past week.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/crypto-market-update-qcp-sees-ethereum-as-a-safer-bet-amid-bitcoins-stagnation/" target="_blank" rel="noreferrer noopener">Crypto Market Update: QCP Sees Ethereum as a Safer Bet Amid Bitcoin’s Stagnation</a></p>

Dogecoin (DOGE) Hits $1.09 Billion in Trading Volume: Is a Bull Run on the Horizon?

Table of Contents

CoinPedia News

Другие статьи, опубликованные 31 июл. 2024 г.

SEC Exempts Solana from Security Classification

Bitcoin News: Whale Bags $388M BTC Ahead US Fed Rate Decision

Bitcoin Stuck In Another Sideways Range: Where Do We Go From Here?

Dogecoin Sees Significant Increase in Transaction Volume

Nvidia Expected To See More Significant Price Swings Than Bitcoin and Ether

Democrat Ro Khanna Champions Bitcoin’s Bipartisan Future During Congress

Join our free newsletter for daily crypto updates!