The cryptocurrency market has been growing without a stop. Several firms and governments have been taking a keen look into the industry. Amidst this, Elon Musk is urging the US government to put the treasury on the blockchain. A prominent name that came up during these discussions was Dogecoin (DOGE). Several members of the community were urging Musk to employ the DOGE blockchain. Amidst this, the community was expecting the asset to witness a bullish February.
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How Is Dogecoin Faring?
The prominent meme coin recorded a massive downfall over the past week. DOGE was down by 21% throughout the last seven days. The asset was trading at $0.3398 before dropping to a low of $0.2251. The cryptocurrency managed to rise to a high of $0.4335 during the month. At the time of writing, Dogecoin was priced at $0.2598 following a 2.50% drop over the past 24 hours.
Meanwhile, Ali Martinez, a prominent analyst pointed out how Dogecoin whales were pocketing the meme coin. The latest crash prompted the community to buy the dip. Martinez revealed that whales purchased 750 million DOGE. Despite DOGE’s downfall, the analyst highlights how the market is confident and bullish about the meme coin.
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Mid-February Price Prediction
The cryptocurrency market has been exhibiting increased volatility. Sadly, this trend is expected to continue over the next couple of days. According to data from CoinCodex, DOGE will be priced at around $0.23751. The highest that the meme coin will trade at during that week is $0.25800. It should be noted that this is a slight growth from the asset’s current price level.
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