Elon Musk’s optimistic statement about the Department of Government Efficiency (D.O.G.E.) sends Dogecoin surging, as analysts predict a potential rise to $4 amid increased whale activity and the withdrawal of a major lawsuit.
A new Solana-based meme coin, DOGEN, is attracting significant investor attention with promises of 700% presale growth and potential 5,000% gains, while Solana’s native token SOL continues its impressive 23.58% weekly surge.
The massive $258 billion lawsuit against Elon Musk for alleged Dogecoin manipulation has been dropped, with both parties filing to end the case as Dogecoin experiences a dramatic surge amid Musk’s appointment to Trump’s efficiency initiative.
The cryptocurrency market has witnessed an unprecedented surge in meme coin activity following Donald Trump’s election victory, with the total meme coin market cap reaching over $74 billion, driven by renewed investor confidence and potential Elon Musk administration involvement.
The cryptocurrency meme token landscape shows diverse performance with MAGA (TRUMP) experiencing decline while Dogecoin rallies and newcomer Rollblock gains attention in the gambling-focused DeFi sector.
On-chain data suggests Dogecoin, Shiba Inu, and Pepe could face further price corrections due to low active addresses and high MVRV ratios, indicating overvaluation.
As Bitcoin rebounds above $56,000, meme coins POPCAT and DOGS lead gains among the top 100 cryptocurrencies by market cap. The surge is attributed to new futures listings and positive market sentiment.
Despite Dogecoin’s commendable performance in May with a 28% price increase, it ended the month on a bearish note. Analysts are assessing DOGE’s metrics to predict its price targets for June. While some indicators suggest slow-moving days initially, a bull rally could potentially send DOGE to its April high of $0.21, and if sustained, even $0.28 may be achievable.
With Dogecoin’s recent resurgence and the overall crypto market trading in the green, many are wondering if the popular meme coin can reach $0.2 by the end of May. Experts provide insights into DOGE’s potential price trajectory based on various factors.
Coinbase International Exchange has announced the launch of perpetual futures trading for the PEPE meme coin, set to commence on or after April 18, indicating a shift in the exchange’s stance towards listing the controversial token.
