{"id":600463,"date":"2024-03-30T14:00:27","date_gmt":"2024-03-30T14:00:27","guid":{"rendered":"https:\/\/wncen.com\/?p=600463"},"modified":"2024-03-30T09:21:58","modified_gmt":"2024-03-30T09:21:58","slug":"dogecoin-price-breaks-new-3-year-high-here-are-factors-that-could-drive-the-price-to-1","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-breaks-new-3-year-high-here-are-factors-that-could-drive-the-price-to-1\/","title":{"rendered":"Dogecoin Price Breaks New 3-Year High – Here Are Factors That Could Drive The Price To $1"},"content":{"rendered":"

The price of Dogecoin (DOGE)<\/span><\/a> recently broke a 3-year high after rising to $0.22. This move continues the remarkable run made by the <\/span>foremost meme coin<\/span><\/a> and has strengthened the belief that DOGE could increase to $1 before the end of <\/span>this bull run<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Bullish Winds Blow: Bitcoin Bull Flag Points To New $77,000 ATH: Analyst<\/a><\/div>\n

Interest In Dogecoin Set To Skyrocket With Coinbase Listing\u00a0<\/b><\/h2>\n

Bitcoinist <\/span>reported<\/span><\/a> that the <\/span>foremost US crypto exchange, Coinbase<\/span><\/a>, had finalized plans to introduce the meme coin to its futures contract offerings. Coinbase\u2019s institutional arm also <\/span>recently confirmed<\/span><\/a> that Coinbase Derivatives will launch the first leveraged and CFTC-regulated futures contracts for Dogecoin in April.\u00a0<\/span><\/p>\n

This means that institutional investors will have the opportunity to trade DOGE futures starting in April. This could be huge for the meme coin, considering the <\/span>amount of capital<\/span><\/a> this class of investors could inject into its ecosystem. As noted by Coinbase, DOGE has become more than just a meme coin and is sure to attract interest from these investors.<\/span><\/p>\n

Meanwhile, the <\/span>derivatives market<\/span><\/a> is known to have a massive impact on a crypto token\u2019s price. Therefore, depending on the sentiment among these investors, <\/span>DOGE\u2019s price<\/span><\/a> could experience a lot of upside volatility on its way to $1.\u00a0<\/span><\/p>\n

<\/p>\n

Bitcoin is now trading at $ 69.964. Chart: TradingView<\/a><\/pre>\n
Dogecoin\u2019s New Wallet Set To Enhance Its Utility<\/b><\/h2>\n
Dogecoin Foundation recently revealed in an X (formerly Twitter) <\/span>post<\/span><\/a> that the <\/span>Dogecoin GigaWallet<\/span><\/a> v1.0 has been released. The foundation further explained that the GigaWallet \u201cprovides a convenient integration API for platforms such as online shops, exchanges, social media platforms etc, to programmatically transact Dogecoin.”<\/span><\/p>\n
The GigaWallet launch is undoubtedly significant as it could play a primary role in expanding DOGE\u2019s adoption. An increase in the number of users <\/span>could reflect positively<\/span><\/a> on DOGE\u2019s price. The wallet launch is also timely, as it comes at a time when <\/span>retail investors<\/span><\/a> are turning their attention again to the crypto market.\u00a0<\/span><\/p>\n
As <\/span>highlighted<\/span><\/a> by Crypto expert Scott Melker, DOGE was known to have attracted this category of investors in the last bull run, and developments like this could make DOGE their preferred choice once more with such accessibility. Moreover, those who couldn\u2019t possibly invest in the meme coin then would find it much easier to do so now.\u00a0<\/span><\/p>\n
Related Reading: Dogecoin Jumps 37% \u2013 How High Can DOGE Go This April?<\/a><\/div>\n
Interestingly, GigaWallet also sets the stage for the integration of DOGE payments into the X platform. There continue to be <\/span>speculations<\/span><\/a> that the social media platform could include DOGE in its payment service, considering <\/span>Elon Musk\u2019s fondness<\/span><\/a> for the meme coin. If that happens, Gigawallet could help make the process more seamless and enhance DOGE\u2019s utility.\u00a0<\/span><\/p>\n
At the time of writing, DOGE was trading at around $0.21, down in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
Featured image from Pexels, chart from TradingView\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The price of Dogecoin (DOGE) recently broke a 3-year high after rising to $0.22. This move continues the remarkable run made by the foremost meme coin and has strengthened the belief that DOGE could increase to $1 before the end of this bull run.\u00a0 Related Reading: Bullish Winds Blow: Bitcoin Bull Flag Points To New $77,000 ATH: Analyst Interest In Dogecoin Set To Skyrocket With Coinbase Listing\u00a0 Bitcoinist reported that the foremost US crypto exchange, Coinbase, had finalized plans to introduce the meme coin to its futures contract offerings. Coinbase\u2019s institutional arm also recently confirmed that Coinbase Derivatives will launch the first leveraged and CFTC-regulated futures contracts for Dogecoin in April.\u00a0 This means that institutional investors will have the opportunity to trade DOGE futures starting in April. This could be huge for the meme coin, considering the amount of capital this class of investors could inject into its ecosystem. As noted by Coinbase, DOGE has become more than just a meme coin and is sure to attract interest from these investors. Meanwhile, the derivatives market is known to have a massive impact on a crypto token\u2019s price. Therefore, depending on the sentiment among these investors, DOGE\u2019s price could experience a lot of upside volatility on its way to $1.\u00a0 Bitcoin is now trading at $ 69.964. Chart: TradingView Dogecoin\u2019s New Wallet Set To Enhance Its Utility Dogecoin Foundation recently revealed in an X (formerly Twitter) post that the Dogecoin GigaWallet v1.0 has been released. The foundation further explained that the GigaWallet \u201cprovides a convenient integration API for platforms such as online shops, exchanges, social media platforms etc, to programmatically transact Dogecoin.” The GigaWallet launch is undoubtedly significant as it could play a primary role in expanding DOGE\u2019s adoption. An increase in the number of users could reflect positively on DOGE\u2019s price. The wallet launch is also timely, as it comes at a time when retail investors are turning their attention again to the crypto market.\u00a0 As highlighted by Crypto expert Scott Melker, DOGE was known to have attracted this category of investors in the last bull run, and developments like this could make DOGE their preferred choice once more with such accessibility. Moreover, those who couldn\u2019t possibly invest in the meme coin then would find it much easier to do so now.\u00a0 Related Reading: Dogecoin Jumps 37% \u2013 How High Can DOGE Go This April? Interestingly, GigaWallet also sets the stage for the integration of DOGE payments into the X platform. There continue to be speculations that the social media platform could include DOGE in its payment service, considering Elon Musk\u2019s fondness for the meme coin. If that happens, Gigawallet could help make the process more seamless and enhance DOGE\u2019s utility.\u00a0 At the time of writing, DOGE was trading at around $0.21, down in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Pexels, chart from TradingView\u00a0<\/p>\n","protected":false},"author":594,"featured_media":600468,"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":[134,1785,7,4735,3505],"class_list":["post-600463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-doge","tag-dogecoin","tag-price-action","tag-price-analysis"],"acf":[],"yoast_head":"\nDogecoin Price Breaks New 3-Year High - Here Are Factors That Could Drive The Price To $1<\/title>\n<meta name=\"description\" content=\"The price of Dogecoin (DOGE) recently broke a 3-year high after rising to $0.22. 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