Crypto News: Dogecoin Surges as $1 Million+ Transactions Flood the Network

The $DOGE community is buzzing as the network recently registered 588 transactions exceeding $1 million within just 24 hours. This remarkable activity coincides with a wave of optimism across the crypto market following Donald Trump's inauguration. On-chain analysts suggest these high-value transactions are signs of accumulation rather than selloffs, reinforcing bullish market sentiment.

Adding to the momentum, Dogecoin's social mentions have surpassed 500,000 in a single day, drawing significant interest from retail investors. Intriguingly, the acronym overlap with the newly established "Department of Government Efficiency" has further fueled enthusiasm. Historically, such spikes in social engagement and whale activity have been precursors to significant price rallies.

On the technical side, Dogecoin is trading within a multi-year ascending parallel channel on the weekly charts. Analysts foresee a potential long-term climb to $15, representing a staggering 4,273% increase from its current price of $0.343. If this projection holds, $DOGE could redefine its journey from a meme to a mainstream asset.#Join Lunar New Year Party & Share $150,000 Rewards