The cryptocurrency industry was finally recording recovery. Several assets were recording double-digit gains. But the meme coin market decided to take it slow. The OG meme cryptocurrency Dogecoin (DOGE) went from trading at a low of $0.2019 all the way to $0.2417. This was a much needed push for the meme coin that has been struggling for a while now. Throughout the past month, the asset dipped by over 30% causing chaos in the market. But March could bring in new gains for DOGE.
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Is Dogecoin Finally Out Of Its Price Rut?
Over the past 24 hours, the price of Dogecoin recorded a nearly 7% uptick. At the time of writing, the asset was trading at $0.2204. The asset’s trading volume shot up by 310% pushing the final number to a high of $4.06 billion.
President Donald Trump’s announcement about including Cardano (ADA), Solana (SOL) and XRP into the Crypto Strategic Reserve was a bullish sign for the entire market. But the community expected DOGE to be a part of the list considering Elon Musk’s inclination towards the coin. Despite this, Dogecoin managed to emerge as one of the top performers of the day.
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Price Prediction
While the community believes that Trump will add DOGE to the list, the market remained optimistic. CoinCodex’s prediction for the meme coin also highlights a bullish scenario for the cryptocurrency. According to the firm, DOGE is set to record a 22% surge from its current price level on March 5. During this period, the meme coin will be priced at a high of $0.2708.
The addition of Dogecoin into the Strategic Reserve will undoubtedly boost the price of the asset. The meme coin could even pursue and fulfill its dream of hitting the $1 mark sooner than later.
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