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/" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">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/" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer 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/" rel="noopener noreferrer nofollow">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>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dogecoin</a> vs <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#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" rel="noopener noreferrer nofollow">#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" rel="noopener noreferrer nofollow">#Altcoin</a>… <a href="https://t.co/f7O6Erpioo" rel="noopener noreferrer nofollow">pic.twitter.com/f7O6Erpioo</a></p>— Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1818320343448113192?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<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, Dogecoin is <a href="https://markets.coinpedia.org/dogecoin/" rel="noopener noreferrer nofollow">still down 1.6%</a> in the last 24 hours and 5.42% over the past week.</p>

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

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