Increased Dogecoin Trading Volume Sparks Renewed Investment Interest
Recent insights from Cryptonews reveal a significant surge in Dogecoin trading volume, doubling to surpass $1.9 billion this week. This upward momentum has reignited discussions about Dogecoin as a promising cryptocurrency investment, leading to a price increase of over 7% on May 9, 2025. The market is experiencing heightened activity following the FOMC meeting, which maintained a strict yet uncertain stance, as well as ongoing trade negotiations between the United States and the United Kingdom. These factors create a conducive environment for Dogecoin’s potential growth.
Derivative Market Signals “Short Squeeze” as Dogecoin Investors Favor Long Positions
According to recent data from Coinalyze, a considerable number of investors are preparing for Dogecoin’s price escalation. The daily Long to Short ratio stands at 2.27, indicating that 70% of investors are betting on a price increase. Simultaneously, the Funding Rate has recovered from a temporary negative position to a neutral level, with prospects of turning positive soon. This situation reflects growing investor confidence in Dogecoin’s bullish trend. If buying pressure continues, short-positioned investors might face pressure to close their positions, further boosting Dogecoin’s price.
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Dogecoin Price Analysis: Could It Reach $1 by May?
The current wave of positive sentiment could drive Dogecoin to test the upper resistance of its long-term downward trend, which has persisted for several months. This week’s rally might mark the beginning of a potential 30% recovery to $0.23, supported by a rebound from long-standing support levels established since mid-2024. Momentum indicators continue to favor this positive outlook. The MACD index is approaching a Golden Cross, poised to cross above the signal line, typically indicative of a long-term trend reversal in higher time frames. Concurrently, the RSI index is steadily rising, heading back to mid-levels after being in oversold territory for an extended period, reflecting significant buying momentum. Should this momentum persist, breaching key resistance could lead to a climb to $0.44. However, reaching $1 in the near term remains challenging, especially amid ongoing economic uncertainty and trade relation concerns between the U.S. and other nations.
Solaxy: A Promising Meme Coin Following Dogecoin
In the rapidly evolving cryptocurrency landscape, identifying high-potential projects that offer impressive returns is a priority for global investors. One such project gaining traction in 2025 is Solaxy, a Layer-2 solution built on the Solana network. It aims to address network congestion and enhance transaction efficiency. Solaxy employs Rollup technology, proven on Ethereum networks like Arbitrum and Optimism, to alleviate mainnet load by consolidating multiple transactions off-chain before returning results to Solana’s main network. The Solaxy project is currently in its pre-sale phase, with tokens initially priced at $0.001, and prices adjusting every 2-3 days. The project has already raised over $33 million. It’s anticipated that Solaxy will be listed on trading platforms following the pre-sale’s conclusion in Q2 of 2025. Early investors have the golden opportunity to purchase Solaxy at favorable prices and stake their tokens to earn an annual return of over 119%.
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