Dogecoin (DOGE) has made quite a recovery today. The original memecoin has rallied 10.7% in the daily charts, 17.4% in the weekly charts, 25% in the 14-day charts, 3% over the previous month, and 14.5% since April 2024.
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Dogecoin’s (DOGE) latest rally follows a market-wide resurgence. Bitcoin (BTC) has reclaimed the $94,000 mark. The global crypto market capitalization has risen by 4.8% in the last 24 hours to $3.05 trillion.
The market rally comes after Trump Media finalized its ETF deal with Crypto.com. The initiative aims to focus on US-based cryptocurrencies. Projects like Dogecoin (DOGE), Solana (SOL), XRP, etc., may benefit from the development.
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DOGE’s rally also comes amid the swearing in of pro-Bitcoin SEC head Paul Atkins. Many anticipate that Atkins will take a more relaxed approach to the crypto industry.
Can Dogecoin Hit $0.50 Next?
According to CoinCodex data, DOGE could rally over the coming weeks. The platform anticipates the memecoin to surge to $0.35 on May 9. DOGE’s price will rally by about 94% if it hits the $0.35 target. CoinCodex does not expect DOGE’s price to hold above $0.30. The platform anticipates a correction to below $0.20 by late June.
Changelly also anticipates DOGE to rally over the coming weeks. The platform predicts DOGE will hit $0.27 on May 9 before facing a correction.
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There is also a possibility that Dogecoin (DOGE) and the larger crypto market will enter a sideways trend. There are still a lot of uncertainties around global trade. The 90-day pause on tariffs has brought some stability to the stock and crypto markets. What happens after the 90 days is yet to be seen.
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