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Dogecoin

Here’s Why The Dogecoin Price Surged Over 10%

Scott Matherson
by Scott Matherson
6 months ago
·
Posted in Altcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Dogecoin price has surged over 10% in the last seven days, providing a bullish outlook for the foremost meme coin. This development has occurred due to several factors, including Donald Trump’s decision to ease off on certain tariffs. 

Why The Dogecoin Price Surged Over 10%

CoinMarketCap data shows that the Dogecoin price has surged over 10% in the last seven days. This price surge specifically began over the weekend following reports that Donald Trump’s much-anticipated tariffs on April 2 might be confined to only sectors and not as broad as earlier feared. 

Related Reading: Here’s Why The Dogecoin And Shiba Inu Prices Are In The Green Today

In an address yesterday, Trump also mentioned that he might give many countries a break on reciprocal tariffs, a move that could cool off the trade wars and provide a bullish outlook for the Dogecoin price and the prices of other risk assets. As such, this has sparked a bullish sentiment among investors who again look to be betting heavily on DOGE, a move which has sparked this surge for the meme coin. 

The Dogecoin price also surged due to the Bitcoin price’s recent rise to as high as $88,500. The foremost meme coin shares a strong positive price correlation with the flagship crypto. As such, DOGE is bound to rally as BTC reaches new highs. Thanks to Bitcoin’s surge, the outlook in the broader crypto market is bullish, and DOGE is also benefitting from it. 

Dogecoin whales are also actively accumulating amid these developments, which has contributed to the price surge for the Dogecoin price. These whales bought over 120 million DOGE last week. House of Doge, the corporate arm of the Dogecoin foundation, also bought 10 million DOGE to launch its official Dogecoin reserve. 

DOGE Ready For Rally To $1

In an X post, crypto analyst Master Kenobi suggested that the Dogecoin price is ready to rally to the psychological $1 level. This came as he highlighted a massive bullish divergence that could propel DOGE close to $1 by June later this year. The analyst had previously revealed that DOGE is mirroring a bullish pattern from the 2017 bull cycle. He predicted that the meme coin could reach $1.1 by June if it witnesses a second parabolic phase in this cycle, just like in 2017. 

Dogecoin
Source: Master Kenobi on X

Crypto analyst KrissPax also mentioned that the Dogecoin price continues to trade in a similar pattern to the 2017 bull cycle. He remarked that if the second large breakout of this cycle happens, then DOGE could surge above its current all-time high (ATH). His accompanying chart showed that the meme coin could rally to $4 when this breakout occurs.  

Related Reading: Dogecoin Wallets Just Hit A New All-Time High, But Why Is Price Struggling?

At the time of writing, the DOGE price is trading at around $0.184, up over 4% in the last 24 hours, according to data from CoinMarketCap.

Dogecoin
DOGE trading at $0.18 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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