Different digital currencies have been hit differently by the market decline, but Dogecoin (DOGE) looks to be strategizing a way to maintain its current positive comeback. The price of the virtual currency is currently $0.1356, up 7.19% over the last day, according to CoinMarketCap statistics. The most recent IntoTheBlock (ITB) whale volume data indicates a resurgence of interest that may ignite DOGE’s parabolic run in the medium future.
Dogecoin whales back in full swing
The cryptocurrency market has been negatively impacted by the most recent liquidations, and Dogecoin’s price has dropped to as low as $0.12, a 21.23% decline over the last seven days. The currency is doing well despite some of the most reliable measures suggesting a negative environment. The ITB data shows a 92.81% increase in whale transaction volume.
Whale deals are defined as those in which the monetary valuation exceeds $100,000. Based on the statistics, they were exchanged for almost $5.29 billion in a single day. The more comprehensive statistics showed that there were 4,330 significant transactions at a DOGE price of $0.1657, up from 2,590 on March 3 at a comparatively lower $0.14.
The price of the biggest meme coin in the market seems to reflect the network’s apparent vote of confidence, which is being reflected in this clear embrace as prices increase.
How great can DOGE soar
It’s been challenging to set a significant goal for the Dogecoin price because there aren’t any important fundamentals to support the current surge. However, Dogecoin’s association with Bitcoin, its passionate community, and Elon Musk’s influence might affect it in the near future.
Dogecoin may short-term retest this price after reaching a high of $0.2054 and, in the long run, aim for the $1 level.
