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Bitcoin memecoin enters the spotlight after trader predicts 100% increase
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Memecoins have dominated the cryptocurrency industry for years, and what started as a craze on alternative networks with Dogecoin (DOGE), Shiba Inu (SHIB) and others has also reached Bitcoin (BTC). In this sense, DOG is a memecoin that stood out this year and led gains among Bitcoin tokens.
Recently, a cryptocurrency trader made $12.45 million from $1,300 in just 15 days after investing in a token called Mood Deng. Based on this, a cryptocurrency expert predicted the future of DOG, stating that the memecoin could exceed US$750 million in market value.
If this happens, DOG could see its total value nearly double from its current value. Is this possible in the current bull cycle?
It has only been a few months since this token, created through the Runes protocol, entered the market, but within this short period, it has gained great popularity among investors. Thanks to connections to Bitcoin and dog-themed meme coins, DOG has made a profitable entry.
Trader predicts 100% rise in DOG memecoin
As a result, many cryptocurrency experts have endorsed this token, especially as the bull run is approaching. A cryptocurrency expert known as MadPunk recently posted on
According to blockchain data, DOG’s current market cap is $398 million, meaning it would nearly double its size. He further explained that Bitcoin memecoins are also becoming popular and starting to take over some of the market.
As the price of Bitcoin gains new support in the market, holding above $60,000, Bitcoin-based tokens are also bouncing. This led MadPunk and other analysts to believe in new highs for DOG, causing it to become a trend on X. Currently, there are more than 26,000 posts with the DOG hashtag.
This impact on social media also affected the price of memecoin, which increased by 56% and 91% over the week and two weeks, respectively. One DOG is worth US$0.003961 and already generates almost US$7 billion in trading volume.
But this Monday (30), the price of DOG fell sharply by 7%, worrying investors. After bullish days, CCI and momentum technical indicators reveal excessive buying of the token, resulting in consolidation.
DOG may or may not recover from the consolidation, but the rest of the indicators signal strong demand for the token. If it bounces from the first resistance at $0.003848 towards the second resistance at $0.005002, an uptrend is likely to continue.
Bitcoin memecoin enters the spotlight after trader predicts 100% increase
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Bitcoin memecoin enters the spotlight after trader predicts 100% increase
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Bitcoin memecoin enters the spotlight after trader predicts 100% increase
