Dogecoin (DOGE) Rally continues and has gained more than 10% for the second day. When reports last came in, the meme coin was changing hands at 000 with a 24 hrs. high of 000 and a low of 000. DOGE had a market cap of 000 and a circulating volume of 000.
For the first time in the past three months, the Dogecoin value has breached the $0.07 mark. Much of this surge can be attributed to increasing whale activity. Asa per data received from Santiment, more than 420 DOGE transactions have been concluded, with each valued beyond $100 K; the trading volume has also touched a staggering $1.18 billion.
Santiment says that Dogecoin surged beyond $0.072 for the first time in 10 weeks, just behind the ETH surge in the past couple of days. Trading volume and $DOGE whale transactions surge together, and when this happens, Markets generally polarize when meme coins decouple.
However, experts also opine that Dogecoin (DOGE) Rally is buoyed by the possibility of Elon Musk getting the Twitter deal this week if a report by Bloomberg is to be believed. The Dogecoin community is upbeat because they hope to see DOGE transactions on Twitter.
Elon Musk has been one of the biggest advocates of Dogecoin (DOGE) in the last few years. The tweets of the SpaceX CEO often led to wild swings in the values of DOGE.
Will Dogecoin (DOGE) Rally Sustain
In two days, DOGE prices have surged by 25%, and its market cap has also crossed $10 billion. On a more somber note, Dogecoin (DOGE) is changing hands at more than a 90% discount from its all-time high of $0.73 last year in May 2021.