Finally, the cryptocurrency market was showing signs of recovery. Multiple assets recorded double-digit increases. The meme coin market, however, decided to go slow. Dogecoin, the original meme currency (DOGE), went from trading for a very low $0.2019 to $0.2417. The meme coin has struggled for some time now. This boost was much-needed. Over the course of the month, this asset dropped over 30% and caused chaos on the market. DOGE may see gains again in March.
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Dogecoin Price: Is it finally coming out of the rut?
In the last 24 hours the Dogecoin price has risen by nearly 7%. The asset’s price at the time this article was written was $0.2204. The trading volume of the asset jumped by 310%, pushing it up to a final total of $4.06billion.
Donald Trump’s announcement that Cardano (ADA), Solana(SOL)and XRP will be added to the Crypto Strategic Reserve, was a sign of optimism for the market. The community had expected DOGE would be included in the list, given Elon Musk’s affinity for the coin. Dogecoin still managed to be one of the best performers on the day.
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Price Prediction
Markets remain optimistic, despite community belief that Trump may add DOGE. CoinCodex’s prediction of the meme coin is also bullish for the cryptocurrency. The firm predicts that DOGE will record a 22 percent increase from its current level of price on March 5th. The meme coin is expected to reach a maximum price of $0.2708 during this time period.
Dogecoin’s inclusion in the Strategic Reserve is certain to boost its price. It is possible that the meme coin will reach its $1 goal sooner.
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Source: watcher.guru
