The Dogecoin price has been on a steady rise, increasing by 2.5% in the last 24 hours and reaching $0.061828. This comes in the wake of a similar gain for the whole cryptocurrency market.
Despite this, DOGE is still down by 9% in the past week and 15% in the last 30 days, having fallen by 12% since the beginning of the year. However, its 24-hour trading volume has now neared $300 million, indicating a steady increase of market interest in DOGE.
This brings us to the topic of the day: Dogecoin price prediction as $300 million trading volume comes in. Can DOGE 10x from here?
Looking at the coin’s chart, its relative strength index (purple) has risen from close to 30 earlier in the week to 50 today, signalling a recovery of momentum that could push its price up higher in the coming days. Similarly, its 30-day moving average (yellow) has stopped declining and is levelling out.
The market remains unstable at the moment, so today’s jump for DOGE may be short-lived. Data suggests that whales are leaning more towards selling DOGE, with numerous big transfers to exchanges hinting that the coin may lose a little more before recovering again.
Dogecoin fans would argue that the coin remains very undervalued, especially when it is down by more than 91% compared to its all-time high of $0.731578 (set in May 2021). However, it is hard to see what, on a fundamental level, could lift DOGE in the short- or medium-term.
The Dogecoin community still holds out hope for Twitter to introduce DOGE payments, although very little has been heard on this front recently. This currently seems like a very distant possibility, considering the SEC’s recent actions. If Twitter does integrate cryptocurrency, and DOGE, it could lead to a big rally.
For now, DOGE probably isn’t the best token for big gains. There are a number of new altcoins in the market that could be set for sizeable gains in the near future, such as yPredict, which is a Polygon-based platform that uses AI to provide users with trading intelligence.
Having launched the presale for its native YPRED token a few weeks ago, yPredict has already raised just over $2.3 million. This week also saw the launch of its first AI-powered predictive trading model, an important milestone for the project.
In the coming months, yPredict will expand on this by introducing a range of other AI-based prediction tools and resources, helping traders to stay on top of the market and make informed investment decisions. Within its ecosystem, YPRED will be used to pay for predictive model subscriptions, as well as for staking and for gaining access to the platform’s various analytic features.
Given this utility, YPRED is set up nicely for being a good short- and long-term prospect. 1 YPRED token currently costs $0.09, although this will rise to $0.10 with the sale’s next stage, and to $0.12 when it lists on exchanges. Exchange listings could see YPRED selling for much higher prices, making it one of the best-performing new altcoins of 2023.
