{"id":562407,"date":"2023-11-25T15:20:10","date_gmt":"2023-11-25T15:20:10","guid":{"rendered":"https:\/\/wncen.com\/?p=562407"},"modified":"2023-11-25T13:19:44","modified_gmt":"2023-11-25T13:19:44","slug":"dogecoin-doge-set-for-major-price-upswing-analyst-says","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-doge-set-for-major-price-upswing-analyst-says\/","title":{"rendered":"Dogecoin (DOGE) Set For Major Price Upswing, Analyst Says"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the last week, DOGE, alongside other cryptocurrencies, suffered a significant price dip following reports of US enforcement action on the world&#8217;s largest exchange, Binance, and the company&#8217;s CEO, Changpeng \u201cCZ\u201d Zhao. <\/span><span style=\"font-weight: 400\">In particular, DOGE recorded a cumulative price loss of 6.85%, ranking as one of the biggest losers in the last seven days, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/dogecoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, there are some positive developments regarding the meme coin, which indicate that investors may soon record a significant price gain.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/big-money-dogecoin-0-2\/\" target=\"_blank\" rel=\"noopener \">Big Money Returns To Dogecoin: Rally To $0.2 Already Programmed?<\/a><\/div>\n<h2><strong>DOGE Record Transactions Worth Over $100,000 &#8211; Price Gain Imminent?\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In an<a href=\"https:\/\/x.com\/ali_charts\/status\/29098382?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> X post<\/a> on November 23, popular crypto analyst Ali Martinez shared that the DOGE market recorded $100,000 in transactions in the past month based on data from In The Block.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Martinez, this development marks a rising interest in DOGE from major institutional players as well as crypto whales, which means the maiden meme coin could be set for a price boost soon.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Dogecoin<\/a> | There&#39;s a notable surge in <a href=\"https:\/\/twitter.com\/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$DOGE<\/a> transactions exceeding $100,000 in the past month, consistently hitting new highs.<\/p>\n<p>This uptick suggests increased interest in <a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#DOGE<\/a> from institutional players and whales, potentially gearing up for a significant price spike. <a href=\"https:\/\/t.co\/UpxVkfu9hW\" rel=\"nofollow\">pic.twitter.com\/UpxVkfu9hW<\/a><\/p>\n<p>&mdash; Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/29098382?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 23, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Providing more insight into this positive trend in the\u00a0 DOGE market, blockchain analytics firm Santiment <a href=\"https:\/\/x.com\/santimentfeed\/status\/93421035?s=20\" target=\"_blank\" rel=\"noopener nofollow\">reported<\/a> that 121 new wallets containing over 1 million DOGE have been created in the last month, terming it \u201ca Sign of Big Money Interest.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Santiment noted that Dogecoin has also recently recorded its largest spike in activity from dormant wallets, which indicates an incoming reversal of the token\u2019s price trend, which is currently negative.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-reverse-could-the-factors-to-watch\/\" target=\"_blank\" rel=\"noopener \">Is Dogecoin About To Reverse? Key Factors To Watch<\/a><\/div>\n<h2><strong>Behind DOGE\u2019s Rise In Transaction &#8211; Dogecoin Co-Founder Weighs In\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In explaining the driving force behind increasing Dogecoin transactions, the token\u2019s founder Billy Markus, with the X username Shibetoshi Nakamoto pointed out the introduction of ordinals and shitcoins.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This information was revealed in a<a href=\"https:\/\/x.com\/BillyM2k\/status\/32099402?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> separate post on X<\/a> in response to a crypto enthusiast who highlighted the \u201cparabolic\u201d trend in the number of transactions on the Dogecoin network.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">ordinals and shitcoins using doge blockchain<\/p>\n<p>&mdash; Shibetoshi Nakamoto (@BillyM2k) <a href=\"https:\/\/twitter.com\/BillyM2k\/status\/32099402?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 24, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">DOGE Ordinals, popularly known as \u201cDoginals,\u201d are quite similar to the Bitcoin Ordinals. They are referred to as DRC-20 token standards, which allow users to inscribe information on the smallest individual units of a Dogecoin, i.e., shibes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the DRC-20 standard, DOGE users can now create non-fungible tokens (NFTs) supported by the Dogecoin network. Understandably, this has led to a substantial rise in the transactions on the Dogecoin network.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While this development marks an increased network adoption, which could attract investors, the increase in transactions is also accompanied by<a href=\"https:\/\/wncen.com\/analysis\/xrp\/valour-xrp-etp-price-10\/\" target=\"_blank\" rel=\"noopener \"> high network fees<\/a>, which may drive away network users.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, DOGE trades at $0.078 with a 0.4% gain in the 24 hours. Meanwhile, its trading volume is up by 13.20% and valued at $374.16 million.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/e8vWf0Qh\/\" alt=\"Dogecoin\" width=\"1480\" height=\"893\"><\/p>\n<pre style=\"text-align: center\">DOGE trading at $0.0775 on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">DOGEUSDT chart on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\"><em>Featured image from PYMNTS, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the last week, DOGE, alongside other cryptocurrencies, suffered a significant price dip following reports of US enforcement action on the world&#8217;s largest exchange, Binance, and the company&#8217;s CEO, Changpeng \u201cCZ\u201d Zhao. In particular, DOGE recorded a cumulative price loss of 6.85%, ranking as one of the biggest losers in the last seven days, according to data from CoinMarketCap. However, there are some positive developments regarding the meme coin, which indicate that investors may soon record a significant price gain. Related Reading: Big Money Returns To Dogecoin: Rally To $0.2 Already Programmed? DOGE Record Transactions Worth Over $100,000 &#8211; Price Gain Imminent?\u00a0 In an X post on November 23, popular crypto analyst Ali Martinez shared that the DOGE market recorded $100,000 in transactions in the past month based on data from In The Block. According to Martinez, this development marks a rising interest in DOGE from major institutional players as well as crypto whales, which means the maiden meme coin could be set for a price boost soon. Providing more insight into this positive trend in the\u00a0 DOGE market, blockchain analytics firm Santiment reported that 121 new wallets containing over 1 million DOGE have been created in the last month, terming it \u201ca Sign of Big Money Interest.\u201d Santiment noted that Dogecoin has also recently recorded its largest spike in activity from dormant wallets, which indicates an incoming reversal of the token\u2019s price trend, which is currently negative.\u00a0 Related Reading: Is Dogecoin About To Reverse? Key Factors To Watch Behind DOGE\u2019s Rise In Transaction &#8211; Dogecoin Co-Founder Weighs In\u00a0 In explaining the driving force behind increasing Dogecoin transactions, the token\u2019s founder Billy Markus, with the X username Shibetoshi Nakamoto pointed out the introduction of ordinals and shitcoins. This information was revealed in a separate post on X in response to a crypto enthusiast who highlighted the \u201cparabolic\u201d trend in the number of transactions on the Dogecoin network. DOGE Ordinals, popularly known as \u201cDoginals,\u201d are quite similar to the Bitcoin Ordinals. They are referred to as DRC-20 token standards, which allow users to inscribe information on the smallest individual units of a Dogecoin, i.e., shibes. With the DRC-20 standard, DOGE users can now create non-fungible tokens (NFTs) supported by the Dogecoin network. Understandably, this has led to a substantial rise in the transactions on the Dogecoin network. While this development marks an increased network adoption, which could attract investors, the increase in transactions is also accompanied by high network fees, which may drive away network users.\u00a0 At the time of writing, DOGE trades at $0.078 with a 0.4% gain in the 24 hours. Meanwhile, its trading volume is up by 13.20% and valued at $374.16 million. DOGE trading at $0.0775 on the daily chart | Source: DOGEUSDT chart on Tradingview.com Featured image from PYMNTS, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":562416,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,7,90437,79599,79600],"class_list":["post-562407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-dogecoin","tag-dogecoin-transaction","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\n<title>Dogecoin (DOGE) Set For Major Price Upswing - Analyst Says<\/title>\n<meta name=\"description\" content=\"Amidst in current decline, There are positive signs surrounding Dogecoin which indicates a potential price spike.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-doge-set-for-major-price-upswing-analyst-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin (DOGE) Set For Major Price Upswing - 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. 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