The strong growth of Bitcoin has led to the rise of meme coins as well. Especially Dogecoin. After Bitcoin’s halving, Dogecoin experienced a surge. However, that explosion has not truly materialized in the first few days after the event. Dogecoin’s trading volume has dropped nearly 15% in the past 24 hours. In terms of price, this coin has only increased by 4% over the past week.
With DOGECOIN not experiencing an immediate surge, some owners and investors worry that they bought in at a low price and won’t profit after the halving. Is there any potential explosion for this asset, and is Bitcoin’s halving too risky for investors?
Will Dogecoin continue to rise after Bitcoin’s Halving?
Dogecoin is currently trading at over $0.16 as we write. Many experts predict a significant increase in price for altcoins and meme coins, including DOGECOIN. However, that leap seems to be delayed. Some expectations include DOGECOIN reaching $1, while others are as high as $2. The coin remains stagnant, but fortunately has not plummeted.
If the coin’s trading volume starts to increase again, this could signal a potential breakout for the meme-themed cryptocurrency. The entire market revolves around the fluctuations of candles, charts, and Bitcoin’s price. BTC is still hovering above $66,000 and hasn’t seen much growth since the halving.
However, looking back at January and March, when BTC surged, the entire market followed suit. Those holding DOGECOIN hoping for a sudden increase in supply may need to keep an eye on Bitcoin to see that chain reaction.
Certainly, Dogecoin will not reach $1 by the end of May or even by the end of the month. However, the community and investors always believe in the potential for growth; it’s just a matter of the right timing.
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