Can the value of DOGE rise further?

TL; DR

Dogecoin's price has increased by more than 35% in a week, surpassing other major cryptocurrencies in terms of trading volume.
The wave coincides with a significant DOGE transition initiated by a mysterious whale.

The cryptocurrency market rebounded last week, with Dogecoin (DOGE) the best performer. The price jumped more than 35% on a 7-day scale, reaching $0.20.

Additionally, DOGE outperforms several rivals on several fronts. For example, in the last 24 hours, the transaction volume generated by Big Meme Coin exceeded $3.6 billion. Solana (SOL), Ripple (XRP) and Binance Coin (BNB) follow close behind with $3.5 billion, $1.8 billion and $1.7 billion respectively.

Dogecoin's resurgence coincides with increased activity from large investors. Whale Alert reveals the case of a mysterious person (or entity). It has been transferred From 1 billion DOGE (worth more than 180 million at current prices) to an anonymous wallet.

Several X users who commented on the post shared their hope that the move could be the first of a price pump. Others have wondered who this mysterious whale could be, with some opinions pointing to Elon Musk.

The CEO of Tesla is a fan of meme coin and a HODLer. Earlier this month he He gave a hint Its EV giant may accept DOGE as a payment method “at some point.” He also pledged to continue supporting the asset by adding “Dogecoin to the Moon.”

Some analysts have recently listed favorable price predictions for the token. Donald was one of the great bulls. Keeping “Dogecoin is unlikely to go to $1,” he said, based on the way it trades with bitcoin.

DOGE isn't the only meme coin that has done well of late. Shiba Inu ( SHIB ) is up 20% on the week, while Solana-based Dogwhiphat ( WIF ) is up 42% over the same period.

Those willing to learn more about the various meme coins, their differences and associated risks, feel free to watch our curated video below.