DOGE surpassed 0.072 for the first time in ten weeks, riding the tail end of Ethereum's recent breakout. Both DOGE whale transactions and trading volume reached August highs.
The DOGE price has risen above $0.07 for the first time in ten weeks. The recent DOGE price increase coincides with massive whale transactions. As per reports, there have been over 420 DOGE whale transactions, each worth more than $100,000. In addition, the trading volume for Dogecoin (DOGE) has surpassed $1.18 billion.
The reports notes that "Dogecoin surpassed $0.072 for the first time in ten weeks, riding the tail end of Ethereum's recent breakout. Both DOGE whale transactions and trading volume reached August highs. When memecoins decouple, markets generally polarise."
As per sources report, some market analysts believe that the recent Dogecoin (DOGE) rally is related to Elon Musk's expected completion of the Twitter deal this week. As a result, the Dogecoin community may be ecstatic that the agreement may pave the way for DOGE transactions on Twitter.
Elon Musk has been a vocal supporter of Dogecoin (DOGE) in recent years, believing that the meme cryptocurrency is superior to Bitcoin for daily transactions.
DOGE Price Rally to Continue
The DOGE price has risen by more than 25% in the last 48 hours, with its valuation approaching $10 billion. Nonetheless, Dogecoin (DOGE) is trading at a price that is more than 90% lower than its all-time high of $0.73 in May 2021.
According to market experts, the DOGE price rally could continue. The DOGE price has successfully broken through its descending resistance line. For nearly 18 months, the DOGE price has been paying attention to this line. The next level of resistance for DOGE is now $0.88.
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