Dogecoin Price Surges 9% as Treasury Demand Increases
The Dogecoin price has increased by 9%, reaching $0.2832, with its market cap at $42.7 billion. This rise is attributed to the Rex-Osprey DOGE ETF and positive market sentiment.
Key Highlights
- Dogecoin has gained 31% on the weekly chart, leading the crypto market rally.
- Daily trading volumes have surged to $5.23 billion.
- DOGE futures open interest has increased by 24% to nearly $6 billion, indicating strong investor interest.
- Popular analysis suggests a potential price target for DOGE between $0.41 and $0.97 based on historical Bollinger Band Width patterns.
- Some analysts predict a possible parabolic rally to $6, similar to past bull runs in 2017 and 2021, with immediate expectations of reaching $1.
Institutional Accumulation
- CleanCore Solutions' Dogecoin Treasury has surpassed 500 million DOGE, aiming for 1 billion DOGE within 30 days.
- This marks a significant institutional accumulation in the Dogecoin ecosystem.
- The holdings are managed via Bitstamp and supported by Robinhood.
For further details, refer to the original article on Coinspeaker.