Memecoins
Dogecoin to Lead Meme Coin Bull Run in May
As the overall cryptocurrency market seeks a bullish recovery after a long slump, most Dogecoin wallets are making profits for the first time in some time. DOGE price is slowly increasing and has just reached the $0.16 mark, also reaching $0.17 on Monday. The coin has not seen levels above $0.20 in almost a month, however, recent indicators show that the asset could rise again.
Dogecoin, despite the crisis, remains the largest coin asset in terms of market capitalization, at $22.43 billion. As a leading asset, DOGE has been one of the biggest decliners in the meme market. So, in the event of a strong rise, it can be one of the biggest climbers, alongside BONK and PEPE. The last two meme coins are the only ones among the top seven to remain in the green during this bearish period.
Dogecoin 16.55% The rise over the past week is a strong indicator that the asset may pave the way for a coin bull run in May. The biggest question surrounding the coin right now is not whether it will rebound, because it currently has. Instead, holders are curious how long DOGE will be able to maintain this current momentum.
Also Read: Dogecoin Forms New Macro Bullish Trend: How High Will Doge Trade in May?
Expectations from the Dogecoin community are high as always, and it is optimistic to see DOGE continue to climb in the near term. Its peak is up for debate, with some analysts seeing DOGE reaching $0.50 soon. However, to achieve such feats, the coin will need to exhibit consistent fundamentals and high volatility to break certain resistance barriers. Reaching beyond $0.20 is the next step for DOGE, and if that happens, the rest of May will be very bullish for Dogecoin.