DOGE Day’ predictions: Will Dogecoin’s price hike by 100% in 30 days ?
Demand for Dogecoin might increase because of a major date next month.
The price might hit $0.34 one of the possible catalysts is not a “sell the news” event.
Dogecoin’s [DOGE] impressive price action in the last few days might be small compared to what could happen in April. But for AMBCrypto, that depends on if history were to repeat itself.
DOGE Day,” which is celebrated on the 20th of April is the reason for this prediction. This date is globally known for advocating for cannabis legalization.
But in the crypto ecosystem, it is a day for Dogecoin’s community to celebrate and remind themselves of the reason for the coin’s development. Historically, DOGE’s Day month has been good for the price. In March 2019, Dogecoin’s price traded around $0.0020. By the next month, the coin’s value had increased to $0.0031.
2020, the value jumped from $0.0017 to $0.0025 between March and April. 2021 was when the coin experienced its biggest gains as the price rallied over 18,000% from 2020’s DOGE’s Day.
However, it was a different scenario in 2022 as the coin failed to tap fresh highs due to the bear market. But by 2023, it was back to business.
This time, it looks like DOGE would repeat that performance, considering. At press time, Dogecoin changed hands at $0.17, making it the best-performing cryptocurrency in the top 10.
Besides that, AMBCrypto’s on-chain analysis revealed that market participants might be gearing up for a parabolic rally.
According to data from Santiment, Dogecoin’s trending social rank was close to its highest point since its triple-digit rally in the first week of March.
If the metric continues to trend higher as April gets closer, then the price of DOGE might jump another 100% within the next 30 days. Another metric fueling the speculation is the total number of holders. As of February, the total amount of Dogecoin holders was less than six million. But as of this writing, that number has increased to 6.58 million.
