Find out the trading high of the OG Meme Cryptocurrency Dogecoin (Doge) in mid - February. Will the asset break free from its price rut?

The cryptocurrency market has been growing continuously. Several companies and governments have been keeping an eye on this industry. During this period, Elon Musk urged the US government to put the Treasury Department on the blockchain. One prominent name that emerged in these discussions is Dogecoin (Doge). Several members of the community have urged Musk to use the Dogecoin blockchain. During this time, the community anticipates that the asset will witness a bullish trend in February.

How is Dogecoin faring

Over the past week, the famous meme coin has recorded a massive decline. In the past seven days, Dogecoin has dropped by 21%. The asset was trading at $0.3398 before falling to $0.2251. Within this month, the cryptocurrency managed to rise to $0.4335. At the time of writing, with a 2.50% decrease in the past 24 hours, the price of Dogecoin is $0.2598.

Source: CoinMarketCap

Meanwhile, a well - known analyst, Ali Martinez, pointed out how Dogecoin whales were bagging the meme coin. The latest crash has prompted the community to buy the dip. Martinez revealed that whales had purchased 750 million Dogecoins. Despite Dogecoin's setback, the analyst emphasized the market's confidence and bullish sentiment towards the meme coin.

Source: X

Price forecast for mid-February

The volatility of the cryptocurrency market has increased. Sadly, this trend is expected to continue in the next few days. According to data from Concodex, the price of Doge is around $0.23751. The meme coin will trade at a maximum price of $0.25800 in that week. It should be noted that this represents a slight increase compared to the current price level of the asset.

Source: COINCODEX