The price of Dogecoin (DOGE) has surged by 10.1%, surpassing the $0.20 mark in the last 24 hours. This meme coin has been on an upward trend recently, gaining 7% on April 6 to exceed $0.18 after a period of stability earlier in the week.

The surge in price is attributed to a significant movement of 200 million Dogecoins from Robinhood to an undisclosed wallet. This has sparked discussions within the crypto community about the potential for Dogecoin to reach the coveted $1 milestone.

The movement of DOGE, totaling around $35.45 million, was detected by Whale Alert, involving two transactions within 24 hours. Initially, 100 million DOGE worth $17.77 million was moved from Robinhood, followed by another transaction of 99.27 million meme coins valued at $17.68 million from the same platform. This activity pushed DOGE’s price up by more than 7% to reach $0.196.

Currently, DOGE is trading at $0.2003, reflecting a more than 10% increase in the past 24 hours and an 18.7% uptick over the last 30 days. Its price over the last fortnight has also seen nearly 15% growth. However, over the previous seven days, the meme coin’s performance was a bit lackluster, losing 3.9% of its value.

Several bullish metrics have contributed to this price jump, including a 31.95% rise in trading volume over the previous day to $2.23 billion, indicating increased market activity and interest in DOGE. Additionally, data from CoinGlass shows that open interest in Dogecoin has grown by 17.5% to $1.67 billion, with a substantial portion of this interest held on platforms like Binance, Bybit, and BingX.

Overall, Dogecoin’s recent price movements and market metrics suggest a resurgence in investor confidence and interest, highlighting its continued relevance in the cryptocurrency landscape.

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