Doge Price Prediction for June 2024: Will DOGE Explode?

Despite a recent slump in Dogecoin's value, recent movements by major investors hint at a possible bullish surge in the near future. Will Dogecoin price explode in June 2024? Let's take a look at this Dogecoin price prediction June 2024 article in more detail.

How has the DOGE Price Moved Recently?

Dogecoin is currently priced at $0.160722 with a 24-hour trading volume of $58.96 billion, a market cap of $23.22 billion, and a market dominance of 0.88%. Over the past 24 hours, the DOGE price has dropped by 0.65%.

The highest price Dogecoin ever reached was $0.738595 on May 8, 2021, and its lowest was $0.00008547 on May 7, 2015. Since its peak, the lowest price it touched was $0.049701, while the highest since that low was $0.227362. Currently, the sentiment for Dogecoin price prediction is bullish, and the Fear & Greed Index stands at 77, indicating extreme greed.

Dogecoin's circulating supply is 144.46 billion DOGE, with an annual supply inflation rate of 3.46%, meaning 4.84 billion DOGE were added in the past year.

Doge Prediction: Why Doge is displaying steady trend?

Dogecoin whales have been actively buying. Recent data reveals that since May 30, these significant investors have gathered a substantial 200 million DOGE in the last few days. This notable buying spree indicates that whales are confident in Dogecoin's future prospects and are preparing for a potential price surge.

The recent news of this accumulation has generated excitement among Dogecoin fans, many of whom are curious about why the price hasn't immediately reacted to the increased buying activity.

This recent buying spree indicates a growing market confidence in Dogecoin. The substantial accumulation by major investors suggests that they anticipate a price rally in the near future. Such activity can often precede bullish trends, as whale investments can influence market sentiment and attract smaller investors. If this trend continues, it could signify a significant upward movement for Dogecoin, reinforcing its position in the crypto market.

How High Will Doge Reach in June 2024?

Given the recent data, several factors could influence Dogecoin's price trajectory in June 2024. Over the past year, DOGE has surged by 138%, outperforming 55% of the top 100 crypto assets and consistently trading above its 200-day simple moving average, indicating a strong upward trend. High liquidity, due to its substantial market cap, further supports its stability and potential for growth.

Despite these positive indicators, Dogecoin faces challenges, such as being outperformed by Bitcoin and having only 14 green days in the last 30 days, reflecting a 47% positive trading period. Additionally, DOGE remains 78% below its all-time high, and with an annual inflation rate of 3.46%, new coins are continuously entering the market, potentially diluting value.

Considering these factors, if the current bullish sentiment continues and whale accumulation persists, Dogecoin could see significant gains. However, given the inherent volatility of meme coins, a cautious estimate would place DOGE's potential peak in June 2024 at around $0.30 to $0.35, assuming market conditions remain favorable and broader crypto market trends support its growth.

How to Buy Dogecoin (DOGE)?

Purchasing DOGE is simple and can be done on various cryptocurrency exchanges. Here's a step-by-step guide to get you started:

1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports DOGE, such as Bitget.
2. Create an Account: Register for an account on the chosen exchange. You will need to verify your identity by providing personal information and necessary documents.
3. Deposit Funds: Add funds to your account. Most exchanges accept deposits in fiat currencies (like USD or EUR) or other cryptocurrencies.
4. Buy Doge: Go to the trading section of the exchange, find the DOGE trading pair (e.g., DOGE/USD), and place your buy order. You can either buy at the current market price or set a limit order at your desired price.
5. Secure Your Dogecoin: After purchasing, transfer your DOGE to a secure wallet.

Where to Buy Dogecoin?

For individuals eager to enter the cryptocurrency market, Bitget emerges as a reliable platform. Offering low fees, a user-friendly interface, and a straightforward onboarding process, Bitget provides a convenient experience for both novice and seasoned traders. Whether you are an experienced investor or a newcomer, Bitget offers a streamlined avenue to buy and trade cryptocurrencies in the dynamic and rapidly evolving market.