Daily Trading Volume Surpasses $2B

Dogecoin (DOGE) has performed very mixed lately, with the cryptocurrency dropping in price dramatically over the past week but trading volume surging. At press time, DOGE is down 7% today and over 18% in the last seven days. On the flip side, DOGE’s trading volume remains encouraging at $2.1 billion, over 450% higher than 30 days ago. Hence, price predictions for Dogecoin are very mixed.

This trading volume includes multiple whale transactions recently, indicating that there is still plenty of interest among big investors in the dog-themed meme coin. However, it just hasn’t shown the price performance to show its value. The DOGE whales perhaps have just looked to offload their DOGE before the price continues to crash.

Also Read: Shiba Inu (SHIB) To Rally 650% to $0.00015: Predicts Analyst

Despite this, traders still anticipate the forthcoming bullish market to drive Dogecoin back up in price. Here is our price prediction for Dogecoin, considering its recent trading volume performance and how much it may rebound.

Dogecoin Price Prediction: Is the Asset Set To Rebound?

According to data from TradingView concerning Dogecoin’s daily performance, the 30-day average for DOGE sunk below its 200-day average over the weekend. This indicates a bearish reversal that may continue for at least a few days. Hence, DOGE may be ready to drop a bit more.

At press time, DOGE is trading at $0.1425. However, the steep drop may make the asset reach ten cents or lower. Throughout March, Dogecoin has consistently traded above that mark and even crept towards $0.20 early in the month. Now, it’s looking like the currency may be below $0.10 for the first time since February.

Also Read: Cryptocurrency: Top 3 Coins That Could Hit ATH In The Coming Week

With that said, Dogecoin’s TV remaining high shows that the coin is still popular and has the potential to rebound in a bullish market. As the Bitcoin Halving draws nearer, most investors expect most altcoins and digital currencies to flourish in price, including DOGE. Furthermore, support from Elon Musk as of late has also fueled DOGE price and hype. Therefore, while the present appears bleak for Dogecoin, price predictions for the near future remain extremely optimistic.