Now the biggest memecoin investors in the world Dogecoin (DOGE) don't have to worry after it managed to climb more than 10% at the price zone of $0.078 with a market cap below $10 billion after a long time of price correction.
This follows because there were whales who made as many as 420 transactions worth $100,000 and resulted in their trading volume reaching an unexpected figure of $1.18 billion.
However, some analysts believe the surge in DOGE's price is due to billionaire Elon Musk likely making good on his promise to buy Twitter this week.
The streak, investors will be more interested in making investments in DOGE as much as possible due to the purchase being able to create DOGE transactions on Twitter.
It was also clarified that Musk has not only been a strong supporter of DOGE for the past few years, but is also confident that the memecoin is capable of surpassing Bitcoin (BTC) in conducting daily payments.
On record, DOGE's price jumped 25% in the last 48 hours with its valuation rising at $10 billion.
Analysts also expect that DOGE will be able to soar as its price successfully breaks through the resistance zone.
In fact, the next resistance is likely to be $0.88 after 18 months of negative momentum.
