The post Dogecoin (DOGE) renews expectation of rally as Meme 1.0 tokens gain ground appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE) remained resilient during the latest market correction. After stabilizing at $0.12, DOGE is showing some signs of returning as high-profile meme coins.  Dogecoin (DOGE) is the only coin in a meme space dominated by tokens. DOGE has been trading sideways for months, with no significant breakouts. Recently, DOGE touched $0.13, before returning to the $0.12 range.  DOGE meme coin is showing potential signs of reawakening based on wallet and exchange activity. In the past month alone, the DOGE market on Binance invited net inflows of more than $333M. The recent price action also called for a breakout after bouncing from recent lows.  Also Read: Dogecoin price prediction 2024-2030: DOGE to the moon? DOGE is also behaving differently than the pack of dog-themed meme tokens. Its chart suggests further price drop, but also an opportunity for outsized rallies. The optimistic expectation is for DOGE to rise as high as $1. The coin has a much older, organic community and a collection of whales that have held for a long time.  Signs of renewed interest also include a doubling of spot volumes. At the same time, buying volumes are still at 48% of all trades, with selling slightly dominating.  DOGE still makes up more than 30% of the whole meme market. Yet the asset is still slowing down in comparison to newer memes. DOGE has a turnover of $933M in 24 hours, surpassed by Pepe (PEPE) at $1.02B.  DOGE is also part of the Meme 1.0 narrative, bringing together an older batch of tokens. Meme 1.0 increased its trading volumes by 235%, also based on the performance of SHIB, FLOKI, ELON and BONE. During the recent Meme 1.0 rally, SHIB and FLOKI outperformed, potentially setting the stage for DOGE.  $DOGE – Retest done ✅ This is gonna be in a…

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Filed under: News - @ July 25, 2024 1:12 pm