Dogecoin exceeds $0.15 after a long period of consolidation 🚀
After months of fluctuations within a range between $0.08 and $0.12, Dogecoin has broken its sideways pattern and reached $0.15. This surge has renewed expectations for a possible irrational demand, similar to what other meme tokens experienced. Some analysts predict that DOGE could approach $1.
Details of the Recent Surge 📈
7.85% increase in recent hours.
DOGE becomes the biggest winner among meme assets.
Short-term goal: Recover to $0.17 and possibly extend gains during the election season in the U.S. 🇺🇸
The Impact of Elon Musk and the Crypto Market 🐕
Dogecoin reacted positively to Elon Musk's tweets, increasing its appeal. Additionally, DOGE recovered alongside Bitcoin (BTC), while other assets lagged behind.
"DOGE has shown an impressive recovery, outperforming other meme assets during this surge"
Dogecoin in October: More than a payment coin 💳
As of October, DOGE remains primarily a cryptocurrency for payments, but there are updates:
Dogebox: A new project that will add programmability to DOGE.
Dogebox platform: Will allow voting, app creation, and e-commerce.
Proof of Stake: There are plans to convert DOGE into a token of this type, although its current blockchain (L1) differentiates it from other tokens.
Relevant Numbers 📊
Recent transaction volume: Over 2.5 billion dollars.
Long-term wallets: More than 21% of DOGE is in wallets that are primarily used for long-term storage.
Portfolio value: Exceeds 4.9 billion dollars after the surge.
DOGE mining: A support for Litecoin ⛏️
DOGE also plays an important role in Litecoin (LTC) mining, making it even more profitable, especially with the recent price increase.
What is the Future of DOGE? 🔮
Although DOGE does not spread as quickly as other memes, it remains a popular cryptocurrency on centralized exchanges. 🏦
Liquidity and presence on multiple platforms remain its main advantages. 💡
"DOGE remains one of the most followed assets, with a strong community backing it long term."
