Dogecoin is one of many meme coins that were expected to surge post-Bitcoin halving. However, that boom has yet to come within the first days after the event. Trading volume for Dogecoin is down nearly 15% in the last 24 hours. In terms of price, the coin is also only up 4% in the past week.
With DOGE failing to have an instantaneous surge, some holders are worried that they bought into the dip and won’t see their post-halving profits realized. Will the asset see any boom, or was the Bitcoin halving too big of a risk for investors?
Will Dogecoin Still Surge Post-Bitcoin Halving?
Dogecoin is trading at just over $0.16 at press time. Many price predictions expected a monstrous surge for altcoins and meme coins, including DOGE. However, that jump seems to be delayed. Some expectations include DOGE reaching $1, others as high as $2. The coin remains stagnant but fortunately hasn’t slid down.
If trading volume begins to rise again, this could signal a potential surge for the dog-themed cryptocurrency. The entire market revolves around the hype, TV, and price of Bitcoin. BTC remains hovering just over $66,000 and hasn’t budged much either since the halving. Looking back at January and March, however, when BTC boomed, the entire market followed. Holders who want their DOGE supply to surge may need to keep their eye on Bitcoin to see that chain reaction.
Also Read: Will Dogecoin [DOGE] Hit the $1 Mark By The End of April 2024?
Certainly, Dogecoin will not reach the $1 mark by the end of the month. However, the community has its bets on the possible rise, just not an exact timetable.
Credit: Source link