Can Dogecoin (DOGE) Still Claim $1 in February?

The cryptocurrency marketplace witnessed a large carnage. A bulk of cryptocurrencies dipped during the weekend. Dogecoin (DOGE), the OG meme cryptocurrency was 1 of the biggest losers of the time with a double-digit drop. While respective were diving heavy into the crushed down this autumn a fewer others were wondering if DOGE inactive has the imaginable to scope $1 this month.

Also Read: BRICS: 2 Countries Officially Agree To Ditch the US Dollar For Trade

Dogecoin’s 24% Downfall

Source: Watcher Guru

The largest meme coin encountered a nonaccomplishment of astir 24% implicit the past 24 hours. DOGE was trading astatine a precocious of $0.3061 earlier contiguous and went connected to autumn to a debased of $0.2117. During the clip of writing, Dogecoin was trading astatine $0.2307. Amidst this, the trading measurement of the meme coin surged by 349% pushing the last worth to $9.59 billion. Considering the way that DOGE is presently taking, this could mean accrued selling unit successful the market.

Source: CoinMarketCap

Also Read: What is the Ripple Cryptocurrency?

Dogecoin has ever been a favourite among whales. These entities are ample wallets that bargain important amounts of cryptocurrencies astatine 1 go. Whales were seen accumulating a sizable quantity of DOGE during the past mates of months. But Ali Martinez, a salient expert revealed that whales had sold a staggering 270 cardinal DOGE during the past 24 hours.

Source: X

Will $1 Remain A Dream For The Meme Coin?

Source: CoinCodex

In bid to surge to a precocious of $1, Dogecoin indispensable emergence 372% from its existent terms level. According to information from CoinCodex, the chances of DOGE surging to a precocious of $1 successful February were bleak. The maximum terms that the plus volition commercialized astatine during this period is $0.2272 and the mean terms remains astatine $0.2055. While the $1 milestone seems unrealistic close now, it could witnesser a emergence aboriginal this year.

Also Read: Dogecoin Price Prediction: Historical Pattern Suggests 600% Rally?