Dogecoin grew by 28% over the week

Cryptocurrency experts note that the price of Dogecoin DOGE $0.07 Department Of Government Efficiency -3.62% Market capitalization $68.51 million VOL. 24 hours $1.5 billion has increased by 28% over the past week. This may indicate the possibility of exceeding this year’s high for the popular meme-coin. At the beginning of October, the price of DOGE was around $ 0.10, but due to the increased demand and interest of whales, the price began to rise. According to forecasts, Dogecoin may reach $ 0.23 by the end of the year, which will significantly exceed the previous high of $ 0.18 recorded in March.

Growth is supported by key indicators, such as a positive Market Value to Realized Value (MVRV), which reflects the preference of long-term investors. In addition, the activity of new addresses on the Dogecoin blockchain has increased, indicating increased interest among retail investors willing to support this trend.

If the activity remains high, Dogecoin may indeed reach a new high, but if interest declines, a pullback to $ 0.14 is possible.