- Dogecoin has surged by 17%, showcasing an epic bounceback.
- The resurgence of DOGE can be attributed to several factors, including a market recovery and anticipation for Coinbase futures.
- The cryptocurrency market surged, with Bitcoin reaching $68,000.
In a flurry of activity, Dogecoin (DOGE) has surged back into the limelight with an impressive 17% jump. This remarkable turnaround comes after a brief period of decline, sparking excitement among both the crypto community and investors.
Currently trading at $0.16, DOGE has seen a notable uptick of 16.30% within the last 24 hours, indicating a renewed sense of optimism among traders. Several factors are believed to have contributed to this resurgence.
Firstly, the broader cryptocurrency market is undergoing a revival, with major digital assets like Bitcoin showing significant gains. This positive sentiment has spilled over to DOGE, propelling its upward momentum. Additionally, there’s anticipation surrounding the forthcoming launch of U.S.-regulated futures for Dogecoin by Coinbase, alongside Litecoin and Bitcoin Cash. Coinbase’s move to file certifications for these futures has added further fuel to DOGE’s rally.
Meanwhile, the cryptocurrency market as a whole is on an upward trajectory, with Bitcoin reclaiming the $68,000 mark. This upward movement coincides with a dovish stance from U.S. Federal Reserve Chair Jerome Powell, who has reaffirmed the central bank’s forecast for three rate cuts despite recent inflation data surpassing expectations. In response, crypto markets surged, with Bitcoin leading the charge.
Interestingly, DOGE’s surge follows a recent dip, during which it fell to $0.122 on March 20 before bouncing back strongly. Wednesday’s trading session saw DOGE reach intraday highs of $0.1578, highlighting the inherent volatility of the crypto space.
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