Dogecoin Trading Volume Drops 15%, Is A Surge Still In Play?

Dogecoin is one of the many meme coins that was expected to skyrocket after the Bitcoin halving. However, the boom has not yet arrived for several days after the event. Dogecoin trading volume has fallen by nearly 15% in the past 24 hours. In terms of price, the coin has only increased by 4% over the past week.

DOGE’s failure to make an instantaneous rally has some holders worried that they may buy on the spurt and not realize the gains after the halving. Will there be a boom for this asset, or was the Bitcoin halving too risky for investors?

Will Dogecoin continue to rise even after the Bitcoin halving?

Dogecoin on a rocket
Image source: WatcherGuru

At the time of writing, Dogecoin is trading at just over $0.16. Many price predictions predicted an incredible rise in altcoins and meme coins, including DOGE. However, that jump appears to have been delayed. Some predict that DOGE will reach $1, while others expect it to reach $2. The coin remains stagnant, but fortunately it has not slipped away.

If trading volumes start to rise again, it could signal that the dog-themed cryptocurrency could soar. The entire market revolves around Bitcoin hype, TV, and prices. BTC is still trading at just over $66,000 and has not changed significantly since the halving. But if we look back at January and March, when BTC skyrocketed, the broader market followed suit. Holders looking to spike DOGE supply may need to keep an eye on Bitcoin to see the chain reaction.

Also read: Will Dogecoin [DOGE] Will it reach the $1 mark by the end of April 2024?

Indeed, Dogecoin will not reach the $1 level before the end of this month. However, while the community is betting on the possibility of an uptick, the exact timeline is unclear.

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