The memecoin market has been moving very slowly throughout the past few weeks. Several assets, including the OG Meme Cryptocurrency Dogecoin (DOGE), are in downtrends. Despite this bearish sentiment, the Doge community was pretty optimistic. This was highlighted by the long position percentage of the prominent cryptocurrency exchange. But the real question is whether Doge can regain a major $0.50 milestone in the coming days.
How is Dogecoin currently trading?
The cryptocurrency market was volatile due to external factors. The Dogecoin was seen sinking into volatile waves. Most assets recorded a steady week, but Doge had a 4% decline in the past seven days. Last month, it was also challenging for Doge as Doge slipped 12.63%. This trend has persisted as meme coins were immersed by 1.21% in the last 24 hours. At the time of writing, Doge was trading at $0.1534.
Amid this storm, analyst Ali Martinez highlighted a prominent bull factor. Experts have revealed that 72.12% of traders in Vinance with Doge positions are long. This is generally considered positive for the Doge market. This can even be focused on market sentiment and translated into price growth in the near future.
Will $0.50 come sooner than expected?
It seems Dogecoin will take a little time to achieve this milestone. According to Concodex data, the chances of Doge regaining $0.50 in April was bleak. The company noted that the highest level that Memecoin could trade this month is $0.243. The average trading price for Doge was set at $0.177. This is certainly a noticeable rise from current price levels, but the community hopes Doge will rise even further.
