Dogecoin (DOGE) Price Prediction: Will the Meme Coin Rally in August?

Dogecoin is on a bullish run over the previous week, rising 16% in comparison with the start of final week. At press time, DOGE is buying and selling at $0.1253 following a dip under $0.10 in the course of the 4th of July vacation within the US.

Dogecoin has seen a bullish run over the last week, with a 16% achieve in comparison with the beginning of final week. At press time, DOGE trades at $0.1253 after dipping under $0.10 during the 4th of July holiday in the US. Some analysts predict that the rally might lead Dogecoin to peak at its all-time excessive ranges by the top of August if a historic chart sample continues.

According to data from IntoTheBlock, exchange netflows have surged by 799%. Dogecoin transactions exceeding $100,000 have also spiked. The data further indicates that 75% of Dogecoin holders are currently in the green. Notably, 67% of holders have held the coin for over a year, while 32% of holders have held the coin for one to 12 months.

The recent activity around Dogecoin bodes well for the coin's immediate future. While this is promising news, it remains to be seen whether a new all-time high will be reached, as some analysts suggest. For context, Dogecoin's all-time high is $0.7376, attained during the crypto boom of early 2021. DOGE had a strong start to 2024, but following the shift to Spring, the asset began to decline. Since the onset of Summer, Dogecoin's trading volume has performed well, but its price has not followed suit.

Will Dogecoin Surge in August?

Meme coins, on the whole, have performed strongly for the majority of 2024. The "meme coin surge" has yet to fully materialize. However, with Bitcoin in a rally phase at press time, meme coins like Dogecoin could thrive. The majority of the crypto market tends to follow Bitcoin's lead, whether in slumps or rallies. As BTC is poised to surge over the next month, the dog-themed coin may also perform well, but a new ATH is yet to be seen as a probable outcome.

Analysts at Changelly, on the other hand, believe that a new ATH is not coming any time soon but agree that DOGE is set to rally. The price predictions remain at a base level, hovering around the $0.15-$0.20 mark for August. The dream of Dogecoin reaching an all-time high of $1 seems distant, but if Bitcoin booms again, perhaps all meme coins could creep to new ATHs.

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