DOGE Is The Coin to Watch: Nearly 75k New Dogecoin Wallets Created In The Last Month

Elon is driving the Dogecoin price rally with rumors of X payments integration for DOGE. But how high will DOGE price climb in coming weeks?

Dogecoin (DOGE) Price Trading volume in 24h Last 7d price movement has continued its bullish rally amid ongoing momentum in the broader crypto market. The price of DOGE has surpassed the $0.4 level for the first time in over three years, demonstrating its resilience.

The long-standing community behind the first meme coin, coupled with Elon Musk’s pivotal role in Donald Trump’s recent election win are two key factors driving this DOGE rally.

🐶📈 Regardless of your take on meme coins, it has been impossible to ignore the ascension of crypto's top meme coin. In the past 4 weeks, there have been 74,885 more wallets holding less than 100K DOGE.

Meanwhile, shark and whale wallets are declining during this time, with a… pic.twitter.com/MNmJVvKfbj

— Santiment (@santimentfeed) November 12, 2024

Whale Wallets Down While Retail Wallets Are Up – 75,000 New Wallets With Less Than 100k DOGE Created In The Last 4 Weeks

On-chain data analytical firm Santiment posted that increased activity from retail players is driving this ongoing DOGE rally. Over 74,88 wallets holding less than 100,000 DOGE have been created in the past four weeks. Meanwhile, high-net-worth investors have been taking profits, with a net drop of -350 wallets in this same timeframe.

However, Santiment said that 108 whale wallets have re-bought DOGE in the past few days. Their return has helped drive DOGE over $0.40 for the first in three and a half years. The firm finished by saying that the ideal scenario is a balance of retail and whale investment.

Per CoinGecko, DOGE is trading for $0.4017, up roughly 36% in the past day and nearly 134% over the past week. The daily trading volume over the past 24 hours has just surpassed an incredible $41.5 billion, further evidence of investors’ increased interest as the coin tests key breakout levels.

( Source: CoinGecko )

What Are Analysts Saying About Dogecoin Price: $1 Soon?

The increased trading volume, retail participation, and institutional involvement provide a solid platform for DOGE’s potential upward movement. Crypto analyst @ali_charts claims that the TD Sequential indicator shows sell signals for Dogecoin price on the 4-hour and 12-hour charts, with another signal forming on the daily chart. He goes on to say that there is a high likelihood of a price correction before going higher.

I believe $doge will continue to outperform all majors

The top likely will be once elon start shilling it etc

$1 and beyond

X payments intergrations also soon.

— WIZZ🥷 ( beware scammers ) (@CryptoWizardd) November 12, 2024

On the other hand, notable Crypto Twitter influencer, ‘ WIZZ ‘, believes that DOGE will outperform other major market cap digital assets, calling for $1 DOGE as the next step. He also adds to the rumor that DOGE will be integrated into X for payments soon, fueling the fire for this rally.

Talking of X, this recent surge in price for DOGE has a lot to do with its relationship with Elon Musk, and there is also speculation about his potential role in the Donald Trump administration. Musk has often joked about running the Department of Government Efficiency (D.O.G.E.) within Trump’s new presidential cabinet.

READ MORE: The 12 Next 100x Cryptocurrency in 2024

BONUS: Pepe Unchained (PEPU) Presale Has An End Date With Lots Of Tier 1 Exchange Speculation For Its Launch

Wow 27M!!!!!

The PEPU community support is incredible! Pepe has entered a complete zen state because of all the love. PEPU #1!! 🐸🐸💚💚 pic.twitter.com/G4A3yy1XxX

— Pepe Unchained (@pepe_unchained) November 11, 2024

Pepe Unchained is an upcoming Layer-2 (L2) built on Ethereum, aiming to become the central hub for meme coins. The team shares that same vision with Vitalik by utilizing the trust and security of Ethereum while harnessing the low fees and fast speeds that come with an L2 solution.

PEPU is still in presale and has just raised a frankly insane $27 million. Many smart investors seem to agree that Pepe Unchained will become a leading L2 within the Ethereum ecosystem.

The team behind Pepe Unchained is serious about becoming a meme coin powerhouse, as evidenced in their ‘Frens With Benefits’ initiative. They have a grant scheme where blockchain developers can apply for funding to build a project on the PEPU network. The grants are now open, and anyone can apply here .

This presale phase is rumored to be ending soon, and there are strong rumors of multiple Tier-1 CEX listings for PEPU soon after launch.

Investors are wondering whether Binance could be one of those Tier-1 exchange listings. If so, PEPU could be ready to emulate recent listings such as ACT. AI token ACT (Act 1: The AI Prophecy) got a Binance listing yesterday (November 11) and instantly mooned over 2400%.

There are just over 24 hours before the next price stage increase. This will likely be one of the final opportunities to secure a bag of PEPU at these low prices before it hits the exchanges.

VISIT PEPE UNCHAINED HERE

EXPLORE: Justin Drake From The Ethereum Foundation Proposes New ‘Beam Chain’ Upgrade: Ethereum 3.0 Inbound?

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