The crypto market at the end of April is destined not to be calm.
Against the backdrop of Bitcoin climbing back above $90,000 and the overall market warming up, Dogecoin (DOGE) has become one of the most dazzling stars. In the past week, Dogecoin has risen from a low of $0.1568 to $0.1924, with an increase of over 22%, reigniting the long-dormant Meme sector.
As of the time of writing, DOGE is reported at $0.17981. Although there has been short-term adjustment, the overall upward trend remains strong. In the past 24 hours alone, the trading volume of Dogecoin has approached $1 billion, indicating that funds are accelerating their inflow.
Why did Dogecoin suddenly surge?
First, there is a rapid shift in market sentiment. As macro uncertainties rise, funds in the crypto market tend to seek assets with greater elasticity and more active liquidity, and Dogecoin, as a representative of the Meme sector, inherently possesses this characteristic.
Secondly, social media heat has once again surged. Whether it's X (formerly Twitter), Reddit, or TikTok, the discussion volume of the topic '$DOGE' has doubled in the past 48 hours. The rise of Meme coins is often accompanied by the fermentation of sentiment, and this time, Dogecoin undoubtedly hit the rhythm.
In addition, on-chain data shows that the number of large transactions of Dogecoin has surged in the past 72 hours, indicating that some whale accounts are re-establishing positions. This brings strong financial support to Dogecoin.
In May, can Dogecoin continue its legendary story?
Historical experience tells us that every significant surge in Dogecoin is accompanied by larger fluctuations in market sentiment. Currently, with Bitcoin pushing through and Ethereum stabilizing, the market's risk appetite is gradually recovering.
If this trend continues, Dogecoin is expected to challenge the key resistance level of $0.20 or even higher. In the short term, the $0.175 to $0.180 range is an important support level, as long as it does not effectively break down, there is still a possibility of further upward movement.
Of course, it is important to note that Meme coins are always extremely volatile, and chasing high prices requires cautious risk control.
Summary
Dogecoin has proven through action that the position of Meme king remains unshaken. The revelry of April has just begun, and the story of May may be even more exciting.
In the next phase, can DOGE lead the Meme sector to take off collectively? It is worth our continued attention.
The crypto market at the end of April is destined not to be calm.
Against the backdrop of Bitcoin climbing back above $90,000 and the overall market warming up, Dogecoin (DOGE) has become one of the most dazzling stars. In the past week, Dogecoin has risen from a low of $0.1568 to $0.1924, with an increase of over 22%, reigniting the long-dormant Meme sector.
As of the time of writing, DOGE is reported at $0.17981. Although there has been short-term adjustment, the overall upward trend remains strong. In the past 24 hours alone, the trading volume of Dogecoin has approached $1 billion, indicating that funds are accelerating their inflow.
Why did Dogecoin suddenly surge?
First, there is a rapid shift in market sentiment. As macro uncertainties rise, funds in the crypto market tend to seek assets with greater elasticity and more active liquidity, and Dogecoin, as a representative of the Meme sector, inherently possesses this characteristic.
Secondly, social media heat has once again surged. Whether it's X (formerly Twitter), Reddit, or TikTok, the discussion volume of the topic '$DOGE' has doubled in the past 48 hours. The rise of Meme coins is often accompanied by the fermentation of sentiment, and this time, Dogecoin undoubtedly hit the rhythm.
In addition, on-chain data shows that the number of large transactions of Dogecoin has surged in the past 72 hours, indicating that some whale accounts are re-establishing positions. This brings strong financial support to Dogecoin.
In May, can Dogecoin continue its legendary story?
Historical experience tells us that every significant surge in Dogecoin is accompanied by larger fluctuations in market sentiment. Currently, with Bitcoin pushing through and Ethereum stabilizing, the market's risk appetite is gradually recovering.
If this trend continues, Dogecoin is expected to challenge the key resistance level of $0.20 or even higher. In the short term, the $0.175 to $0.180 range is an important support level, as long as it does not effectively break down, there is still a possibility of further upward movement.
Of course, it is important to note that Meme coins are always extremely volatile, and chasing high prices requires cautious risk control.
Summary
Dogecoin has proven through action that the position of Meme king remains unshaken. The revelry of April has just begun, and the story of May may be even more exciting.
In the next phase, can DOGE lead the Meme sector to take off collectively? It is worth our continued attention.
