The price of Dogecoin has not been completely able to repeat its model in the late 2024 so far in 2025, when it was circulated below $ 0.2 for most parts of the year. After a somewhat difficult start for the month of June, Mimi’s currency appears to be well recovering, as she jumps over $ 0.18 on Friday 6 June.
Interestingly, it seems that the price of Dogecoin is only at the beginning of what is expected to be an extended upward raising. According to Blockchain executive director, “King of Meme Coins” is about to witness a price explosion.
Four reasons make Doge Price ready to take off
At a post on June 6 on the social media platform X, the CEO of Alphractor and the founder Joao Wedson presented visions on the series about the reason for putting the price of Dogecoin completely to initiate an equivalent race. Crypto expert provided four reasons behind investors retaining the doge code.
First, the collected liquidation level for 500 days reveals that a large amount of liquidity ($ 350 million) was besieged about the level of $ 0.5 the last time that a large correction Dog saw. According to Wedson, the price of Dogecoin tends to increase months after the short pants accumulate.
Weedson also highlighted that the price of Dogecoin against Bitcoin is closed at the decisive technical level. As shown in the graph below, Doge/BTC is almost in historical support – one was a bullish starting point for the highest new levels in the 2021 session, where the symbol symbol outperformed Bitcoin performance.
Source: @joao_wedson on X
Moreover, Wedson has alluded to a wider stimulus for a possible performance of the Dogecoin price in the next few months. Crypto CEO, which contains 16 of the largest Meme currencies, shows signs of premature recovery after severe correction.
Finally, Wedson stated that the total of the capital of Meme Coin Marketization is much greater than 2021, while the open interest is still very low ($ 3.2 billion), and the daily volume is about $ 12 billion. The low open attention indicates that the condition of the Meme currency market has not yet increased its temperature, with a field for further bullish growth.
Dogecoin price at a glance
From writing these lines, the Dog’s price sits under $ 0.18, which reflects an increase of approximately 5 % over the past 24 hours. This daily procedure for a little price was done to treat Altcoin’s performance on the weekly timetable. According to data from Coingecko, Meme has decreased by more than 10 % in the past seven days.
The price of DOGE on the daily timeframe | Source: DOGEUSDT chart on TradingView
Distinctive image from Istock, tradingvief chart
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