Dogecoin's (CRYPTO: DOGE) market valuation has soared to $61.4 billion as the “king of memes” spiked 10% overnight.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin (CRYPTO: DOGE) | $0.415 | $61.4 billion | +10.4% | +23.7% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002438 | $14.4 billion | +10.3% | +12.6% |
| Pepe (CRYPTO: PEPE) | $0.00001999 | $8.4 billion | +8.3% | +12.7% |
Trader Notes: Prominent technical analyst Kevin has identified the $0.4155 level (0.786 Fibonacci) as the key target following Dogecoin's breakout.
Breaking this resistance could pave the way for revisiting previous highs and potentially surpassing them.
Johnny, another crypto trader, highlighted retail investors’ recent success with XRP, which surged from $0.50 to $3.40 in mere weeks.
He predicts DOGE could similarly trend higher, with retail enthusiasm potentially pushing it past $1.
This rally may coincide with Donald Trump's inauguration and Elon Musk's influence, igniting what he calls “Doge season” as early as Monday.
Prominent trader Unipcs echoed this sentiment, forecasting DOGE to become the first $100 billion meme coin, riding momentum from the formation of the Department of Government Efficiency.
Statistics: Whale Alert data shows around 600 million DOGE was transferred between unknown wallets in two different transactions.
In one 200 million DOGE, worth 77.3 million, and in the second 400 million DOGE, worth $154.3 million, were transferred.
Both transactions originated from addresses among the richest Dogecoin wallets, sparking potential price volatility.
Coinglass data shows open interest spiked 17.1% to $5.4 billion while DOGE derivatives volume maximized by 30.9% to $10.3 billion.
Read Next:
- Dogecoin Surges 21% In 7 Days: Why Is DOGE Going Up?
Image: Shutterstock
