Bitcoin skyrocketing to a new ATH of $112k has reawakened the Dogecoin bulls. The meme coin is now back on the horse, rallying remarkably to break new resistance levels. As June approaches, savvy investors are taking positions to rake in handsome returns from potential crypto highs. But based on the coin’s volatile past, several investors aren’t quite sure if the meme king will be profitable in June. This article examines the possibility of this scenario.
Dogecoin bulls are back
Dogecoin’s success over the years may be attributed to hype, but its meme-crazed community played a huge role in its viral movement. Without the persistent efforts of the DOGE army, Dogecoin wouldn’t have caught on in the first place. That is why the return of Dogecoin bulls in recent days is sparking excitement all over the community.
Dogecoin appreciated decently after Bitcoin hit $112K. Source: Coingeko
Following Bitcoin’s surge, Dogecoin broke through the $0.23 resistance level for the first time in weeks. Although there’s been a minor pullback since then, crypto experts remain bullish about Dogecoin’s chances of hitting new highs in June.
Wormhole’s recent integration of Dogecoin on the Solana ecosystem is one of the fundamental signals bolstering this resolve. Wormhole is a top cross-chain interoperability network. Its new trustless Dogecoin-Solana bridge is the first of its kind, and this development is expected to increase Dogecoin’s exposure and usher in fresh capital into the meme coin.
Whale activity boosts DOGE’s prospects
According to a report from TradingView, a total of 60.9 billion DOGE, worth approximately $23 billion was moved by Dogecoin whales around the time Bitcoin hit its recent high. Although the major drive behind these large transactions remains uncertain, it is obvious that Dogecoin whales are preparing for something big.
Increasing Dogecoin transaction volume lends credence to this sentiment. Dogecoin’s daily trading volume has been in the billion dollar range over the last week, and since the coin’s general trend is upwards, it indicates increased buying activity from investors.
Dogecoin price prediction: Can DOGE hit $3.8?
Crypto technician Kev_Capital_TA believes so. In a video released on Youtube, he mapped Dogecoin’s three historical cycles and concluded that the memecoin’s current breakout-and-retest pattern puts a long-term Fibonacci extension at $3.8 to $3.9.
Dogecoin’s historical price cycles. Source: TradingView
Kev_Capital added that the current cycle looks healthier. As long as Bitcoin remains stable and endures macro conditions to maintain a steady upward trend, a Dogecoin price prediction of $3.8 could be on the horizon. Should Dogecoin price go through a sudden correction or crash, Dogecoin price would come tumbling down.
Will Dogecoin be profitable in June?
Despite its bullish momentum and expected surge in June, crypto experts are still a bit skeptical about Dogecoin. The coin is known to be volatile and its heavy reliance on external factors to remain resilient doesn’t help its case.
As a result, Dogecoin may not be the ideal option, especially for handsome crypto profits in June. That position belongs to Remittix (RTX), an upcoming PayFi solution that is currently making waves.
Unlike Dogecoin and other meme coins, Remittix has real utility. It allows anyone with crypto to send funds in fiat to bank accounts, right from their wallets. This makes it an exciting contemporary financial solution, expected to disrupt the $800 billion global remittances market.
Currently in presale, Remittix is priced at an affordable $0.0781. With experts estimating a 10,000% rally following its exchange listing, Remittix positions itself as the top investment option for crypto investors in June and beyond.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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