Dogecoin Eyes $0.25 Surge as Meme Coin Joins Crypto Profitability Elite
Dogecoin—the internet’s favorite joke-turned-asset—is making serious moves. DOGE just cracked the top 5 most profitable cryptocurrencies, with traders betting on a push to $0.25.
From meme to mainstream: The Shiba Inu-themed token continues to defy skeptics, proving that in crypto, fundamentals are optional when you’ve got viral momentum and Elon Musk tweets.
Wall Street analysts hate this one trick: While traditional assets grind through paperwork and regulation, Dogecoin’s community-driven hype machine bypasses the usual roadblocks. Just don’t ask about utility.
Source: Forbes
Dogecoin Eyes $0.25 as It Enters Rarified Air for Cryptocurrencies
Amid a strong market downturn, news surfaced Friday that 21Shares filed an amended Dogecoin ETF bid. Indeed, the asset class has been a focus for the investment vehicle considering its strong community and popularity as a digital asset. That has only reinforced a bullish perspective for the asset as May comes to a close
The entire market was red to close the week, as all eyes were on how it could turn around with June’s arrival. That may be set to take place for Dogecoin, as Doge may be poised to target the $0.25 level as it enters the top 5 most profitable cryptocurrencies.
According to a recent report, 77.9% of the entire Dogecoin supply is in profit. That ranks DOGE fourth among all premier crypto tokens. Bitcoin led the pack with 98.4% of its supply, while Ripple (XRP) and chainlink (LINK) were at 90% and 80.5%, respectively.
Additionally, dogecoin is beginning to form a new head and shoulders pattern on its daily chart Friday. The development signals that Dogecoin could very well be on its way to a $0.23 price, with $0.25 being the next key level to watch for. Sitting at a price below $0.20, it had dropped more than 14% over the last 7 days. However, the memecoin is still up more than 16% in the last 30 days, according to CoinMarketCap.
