Dogecoin (DOGE) is arguably riding the bullish wave today as all of its growth metrics are on the rise. The price of the meme coin is up 39% to $0.1276, arguably leading the sector’s resurgence in a Bitcoin-fueled bull rally. With the current price outlook, Dogecoin now has Recorded an increase of 51% in the last seven-day period.
Dogecoin (DOGE) is arguably riding the bullish wave today as all of its growth metrics are on the rise. The price of the meme coin is up 39% to $0.1276, arguably leading the sector’s resurgence in a Bitcoin-fueled bull rally. With the current price outlook, Dogecoin now has Recorded an increase of 51% in the last seven-day period.
The ongoing rally has pushed Dogecoin to reach a major milestone for the year as the price surpassed one zero, a feat it had not recorded in over a year. Amid the ongoing rally, DOGE price jumped to a 52-week high of $0.1344, a level that suggests the potential of retracing its previous all-time high (ATH) of $0.7376.
There are many considerations when projecting the Dogecoin price to return to the ATH, including trading volume, the impact of whale transactions, and overall market sentiment. According to current data, Dogecoin’s trading volume has increased by 208% to $5,755,421,085, making it the seventh most traded digital currency in the market today.
Amid the market resurgence, Dogecoin whales are on an uproar, with data from crypto analytics platform IntoTheBlock (ITB) pegging the sheer trading volume at $3.44 billion, up 71.78% in 24 hours.
Dogecoin and broader market sentiment
Despite the current DOGE price rally, there are no signs of the personal ecosystem driving its rally, leaving it solely at the mercy of the broader market.
Bitcoin has taken the lead so far, with its price shooting above the $63,000 threshold for the first time since it last recorded its ATH above $69,000. The huge bullish momentum in BTC price has triggered a corresponding run for all altcoins, setting the pace for a broad market rally.
Dogecoin is currently one of the biggest beneficiaries of this correlation, and it remains to be seen how long this rally will last.
