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The digital currency ecosystem has yet to reach last month’s highs, with Dogecoin (DOGE) also facing prolonged declines. At the time of writing, Dogecoin price was at $0.3163, down 1.16% in the last 24 hours, according to to data from CoinMarketCap. Although it’s not out of the woods yet, DOGE price has recovered from its lowest point in the last 24 hours, suggesting that the bottom has finally set in.
Dogecoin Price Trends
From a high price of $0.3214, Dogecoin price fell as low as $0.3097 in the last 24 hours. Although the meme coin managed to mount a strong support wall at $0.3, its recovery remained staggered.
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When DOGE price is extended on the seven-day chart, the $0.3097 level also marks its worst level, indicating that it could be the most important price floor. If this projection holds true, investors should closely monitor trading activity around this price level.
Dogecoin Whales stay active during this award period. As IntoTheBlock data shows, large transactions in the Dogecoin ecosystem jumped over 41% in 24 hours. These transactions now amount to more than $23 billion.
This heavy trading activity and activity within this $0.3 price range could force a rebound in Dogecoin in the medium term.
What does the future hold for us?
Dogecoin still harbors its long-term ambition of reaching the $1 mark. In his outlook for the crypto market in 2025, Mike Novogratz Galaxy research said that Dogecoin will finally touch the price mark.
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The company highlighted how the meme coin will benefit from Elon Musk’s Department of Government Efficiency (DOGE). Amid growing demand for new crypto ETF products, there is growing speculation that a Dogecoin ETF could also be filed soon.