Dogecoin has bounced to $0.20 in the past 24 hours as the market begins to recover — putting the current Dogecoin price prediction back in the spotlight.
While the move marks a modest uptick, it could be the start of a bigger shift in momentum for DOGE, which is still down 16% in a week and 26% over the past two weeks.
Even so, the meme coin remains up 23% in the past month and nearly 90% year-over-year, keeping it firmly on the radar of traders watching for the next explosive move.
Last week was a turbulent time for the coin and the wider market. Increased tariffs and an unyielding Federal Reserve dampened confidence among whales and institutions, which withdrew from ETFs for the first time in weeks.
Yet DOGE may have already bottomed out, with overall trajectory of the market likely to push the coin to higher levels in the next few months.
Dogecoin Price Prediction: Whale Outflows Spike as DOGE Breaks Key Support – Is a Full Breakdown Coming?
The past few days have been tough for the crypto market, with the aforementioned economic factors resulting in considerable outflows.
If we look at major crypto ETFs, we see that the seven days up to today resulted in a total outflow of $223 million, with Ethereum inflows offsetting just over $400 million in Bitcoin outflows.
This has affected Dogecoin and other meme tokens, with DOGE witnessing a steep drop in volume, from $24 billion on July 21 to $1.4 billion today.
However, the coin has seen a few significant transfers away from exchanges in recent days, including two apparent buys from Robinhood (here and here).
As such, the overall situation arguably isn’t as bad as it seemed last week, with the Dogecoin price and the wider market likely to recover from recent stressors.
And if we look at DOGE’s chart today, we see that the coin may have begun a bounce after hitting short-term lows.
Most notably, the token’s relative strength index (yellow) has begun rising again after touch 35 a couple of days ago.
Source: TradingViewOne important point to make is that, despite last week’s correction, Dogecoin remains in the middle of a bull phase, having broken out of a falling wedge a couple of months ago.
Raised ETF flows have been the primary driver of recent gains, and what’s bullish is that the market is still waiting on the possible approval of numerous XRP and Solana ETFs, as well as for several other tokens.
Assuming that the SEC approves most of these later in the year, this will massively boost the Dogecoin price, which could hit $0.30 by the middle of September.
Maxi Doge Raises $300,000 in Recently Launched Presale: Is This the Next Big Meme Token?
One of the problems with Dogecoin is that it’s a well-established coin, meaning that it’s reached a size where it doesn’t make the kind of dramatic gains it did when it was younger.
However, the market is currently awash in new and interesting meme coins, with one of the newest and most intriguing being Maxi Doge (MAXI), an ERC-20 token that launched its presale this week.
With a supply of 150.24 billion MAXI, Maxi Doge has styled itself as a harder, more bullish version of Dogecoin, aimed at trading with leverage and making huge profits.
It’s currently building up a community of traders, who will share trading strategies and participate in trading competitions and challenges, with winners rewarded in MAXI.
The coin will also maintain a Maxi Fund, equal to 25% of its total supply, which it will use to support partnerships and increase liquidity.
It has already opened its Telegram channel, and will have a Discord channel coming soon, with both serving as a hub for its community.
As an Ethereum-based token, MAXI will be open for staking, enabling holders to earn a passive income.
Investors can join its presale now by going to the Maxi Doge website, where MAXI currently costs $0.0002505.
This price will rise repeatedly during the sale, so interested buyers should act now to ensure the biggest possible gains.
Click Here to Participate in the PresaleThe post Dogecoin Price Prediction: Whale Outflows Spike as DOGE Breaks Key Support – Is a Full Breakdown Coming? appeared first on Cryptonews.
