There have been multiple Dogecoin developments in the past week that have set it on a path to a price surge that could potentially see it reach new peaks. These developments range from general improvement in market sentiment to adoption into payment systems, and the long-waited exchange-traded funds (ETFs). As these developments swim into the light, the Dogecoin price could be preparing for a major uptick.
Major Developments Keeping DOGE Afloat
With the bear market rocking investors, the adoption of cryptocurrencies as payment systems has slowed and Dogecoin has not been left out. However, a major development has seen DOGE join the ranks of top cryptocurrencies that are now being accepted by the World Food Program in the United States.
The announcement by the World Food Program came on Tuesday in light of a partnership with The Giving Block. This partnership would allow the charity organization to accept cryptocurrency payments, using over 80 different cryptocurrencies. These include the likes of Bitcoin, Ethereum, and stablecoins such as USDC, and DOGE as well.
The significance of this partnership is that it allows the World Food Program to access donations in previously inaccessible territories. Dorota Amin, the Chief Philanthropy and Partnerships Office said, “In the face of record-breaking need and shrinking resources, we must do more than ask – we must adapt.”
Another major development for DOGE is the 21Shares announcement of an upcoming Dogecoin ETP launch. 21Shares penned a partnership with the Dogecoin Foundation to launch an ETP.
Furthermore, US President Donald Trump has announced a 90-day pause on the tariffs placed on countries worldwide, with the exception of China. This news has been incredibly bullish for the market and the Dogecoin price has already seen a 10% uptick following the announcement.
With no new tariffs expected to be announced for the next three months, it gives the crypto market time to recover completely and create support. By extension, the Dogecoin price could greatly benefit from this without the constant fear of a crash triggered by more tariff news.
Dogecoin Price Jump To $1?
The Dogecoin price is currently sitting 79% below its all-time high of $0.73, meaning it still has an 800% rally to reach previous highs. Going further than this, a 900% surge could send it to the $1 territory. Nevertheless, expectations remain that DOGE will hit this major level.
According to crypto analyst Crypto Jack, the Dogecoin price still has a lot of support at $0.1, and the next major resistance is sitting just below $0.6. This already puts it on the path to a new all-time high.
Featured image from Dall.E, chart from TradingView.com
