Dogecoin (DOGE) has been on a tear lately, leaving investors and analysts scrambling to predict just how high the coin can climb.
After an eye-catching rally last week that saw DOGE surge over 35% in four days, the question on everyone’s mind is: can Dogecoin keep this momentum going and hit $0.30 in April?
DOGE Continues Riding High Despite Minor Setbacks
Before we explore the possibilities for Dogecoin’s future, let’s take a closer look at where the coin stands right now.
At the time of writing, Dogecoin is trading at around $0.19, a slight dip from its recent highs.
Last Thursday, DOGE managed to close above the crucial $0.20 level, but it has been struggling to maintain that position ever since.
Over the weekend and into Monday morning, DOGE has seen a pullback.
However, despite this setback, DOGE still managed to secure its highest weekly close since November 2021 – a testament to the coin’s impressive recent performance.
Looking at the daily chart, Dogecoin now appears to be heading toward its 20-day exponential moving average (EMA), which could potentially serve as a key support level.
Meanwhile, spot trading volumes for DOGE have surged 22% to a whopping $3.5 billion, making it the 7th most traded cryptocurrency in the world right now.
Is DOGE Destined to Hit $0.30 This Month?
So, can Dogecoin reach the elusive $0.30 mark in April?
It’s an ambitious target since DOGE would need to surge 57% from its current levels to achieve it.
However, one potential scenario that might fuel another leg up is if Dogecoin finds support at the previously mentioned 20-day EMA.
If DOGE can bounce off this level and create a new higher low on the daily chart, it could be the springboard for another push higher.
But the real wildcard might be the upcoming Bitcoin halving, expected to occur in less than three weeks.
Historically, these halvings have provided a bullish catalyst for the entire crypto market, and Dogecoin could benefit from the rising tide.
This year’s halving is also expected to occur on April 20 – a date that’s known as “Doge Day” in the crypto community,
With the stars aligning, it’s not hard to imagine meme coin investors rallying around this event and driving DOGE higher.
So, while $0.30 might seem like a long shot right now, if Dogecoin can harness the combined power of technical support, the halving hype, and the magic of Doge Day, it’s certainly possible in April.
Which Other Meme Coins Could Pump in April?
Savvy meme coin investors are also keeping an eye on other promising projects alongside Dogecoin.
One standout that’s generating plenty of buzz is Dogecoin20 (DOGE20), which is positioning itself as an “upgrade” to the DOGE dynasty.
Dogecoin20 Gears Up for Doge Day Debut After Hitting $10M in Presale
Dogecoin20 has been performing exceptionally well in recent weeks and has been designed with a few key tweaks that could help it stand out in the meme coin market.
For starters, Dogecoin20 boasts a fixed supply of 140 billion tokens – a stark contrast to Dogecoin’s inflationary model.
This scarcity factor could drive up demand (and price) over time.
Additionally, Dogecoin20 offers some enticing staking rewards, with annual yields projected at a whopping 66%.
But perhaps the most exciting aspect of Dogecoin20 is the insane hype surrounding its upcoming launch.
The project’s presale was a clear success and hit its funding target of $10 million well ahead of schedule.
Now, with DOGE20 set to make its Uniswap debut on April 20 (a.k.a. Doge Day), investors have one final chance to buy tokens for $0.00022.
Members of Dogecoin20’s Telegram channel are speculating that the coin could be primed for an explosive launch, benefiting from the bullishness around meme coins in general.
If Dogecoin20 can harness even a fraction of Dogecoin’s hype while making progress on its own roadmap, it could potentially be the next big thing in the world of meme coins.
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