Dogecoin Price Prediction: DOGE surges 14% as Coinbase plans to launch Dogecoin futures and Doge20 ICO surpasses $5 million

Dogecoin price rose 14% to $0.1515 at 06:24 EST, with trading volume up 17%. This is a rally following strong performance in Bitcoin (BTC) price, as the memecoin tends to follow the pioneer cryptocurrency in bull markets.
Dogecoin prices may also have been boosted by news that Coinbase plans to launch a Dogecoin futures trading product. The exchange plans to launch the same product on April 1 for other cryptocurrencies including Litecoin (LTC) and Bitcoin Cash (BCH).
Coinbase exchange has quietly submitted documents to the CFTC to list U.S.-regulated Dogecoin (DOGE), Litecoin (LTC) and Bitcoin Cash (BCH) futures (as early as April 1, 2024). Coinbase Derivatives said it will use the self-certification path of CFTC Regulation 40.2(a) to list futures products, which allows trading without waiting for direct approval from the CFTC. But it still needs to ensure that the contract complies with the Commodity Exchange Act and CFTC regulations.
Following the announcement, on March 20, Dogecoin prices rose by 14%, while Bitcoin Cash (BCH) and Litecoin (LTC) rose by 11% and 8% respectively.
Coinbase already offers futures contracts for Bitcoin (BTC) and Ethereum (ETH), as well as crude oil contracts, to institutional and retail investors. James Seyffart, an ETF expert at Bloomberg Intelligence, said in a comment that this could force the Securities and Exchange Commission (SEC) to clarify whether Ethereum is a security or a commodity.
Scott Johnsson, partner and general counsel at Van Buren Capital, said it was the beginning of a broader trend in U.S. regulatory leadership during a transition period in administration.
Dogecoin Price Outlook: Coinbase Derivatives plans to launch Dogecoin futures trading
The price of Dogecoin has fallen below the $0.1368 support level, undergoing a liquidity wipeout, setting the tone for an up move. The relative strength index (RSI) rebounded from the mean level of “50”, supporting this sudden rise in the price of Dogecoin.
If the bulls can push the dog-themed meme coin to close above $0.1638, it will encourage the sideline bulls to enter the market, likely pushing the Dogecoin price towards the stiff resistance at $0.1855.
In a highly bullish scenario, Dogecoin price could break through this barrier, turn it into support, and use it as a starting point for a liquidity grab above this level. In this highly ambitious scenario, Dogecoin price could rise, recapture the peak of $0.2063, and potentially establish a new peak.
On the other hand, if the bears step in, encouraged by early profit-taking, the price of Dogecoin could decline, erasing Wednesday’s gains. If the bears lead the price below the psychological support of $0.1200, it will negate the bullish view.
Meanwhile, as Dogecoin price attempts to resume its upward movement, smart investors have discovered DOGE20, a project that thrived during its pre-sale phase.
As a strong alternative to Dogecoin
DOGE20, the power token of the Dogecoin 20 ecosystem, represents the next generation of memecoins. It is inspired by the memecoin universe centered around the iconic Shiba Inu.
But the project distinguishes itself from other projects by introducing on-chain staking, while upholding the philanthropic spirit embodied in its Doge family bloodline, with its guiding principle being to “do only good things every day.”
DOGE20 is more than just another Shiba Inu-inspired derivative. It upholds Dogecoin’s philosophy of “doing only good things every day” and provides passive income through on-chain staking. Embrace a more environmentally friendly and sustainable future with the world’s most beloved meme coin!
At the core of DOGE20 is a set of advanced smart contracts powered by Ethereum that transcends its origins as a memecoin to become a dynamic asset offering the potential for significant passive income.
15% tokens are used for staking, and holders are motivated to actively participate in the stability and growth of the network and receive rewards.
The project is currently in its pre-sale phase and has racked up more than $5 million in sales to date in just over a week.
Investors who wish to purchase DOGE20 can do so on the site for $0.000204 per token. This price tag will only be available for less than three days, so buyers should seize the opportunity.
Visit and buy DOGE20 here
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