Why is the price of Dogecoin rising today? Will it reach 0.5 USD soon?

Dogecoin is the latest member of the exciting price surge in 2025. The Memecoin has increased by nearly 15% in the past 24 hours. The recent price surge may be due to significant whale activity and increased trading volume in the past 24 hours. Dogecoin has been bought back by cryptocurrency whales with a massive buying volume of 1.08 billion DOGE. In addition, the trading volume of memecoins has increased significantly by 190%. The strong increase in activity may be a signal of growing confidence in this token. In addition, recent developments have sparked discussions about Dogecoin, particularly its alleged connection to Trump's inauguration. There are speculations that Elon Musk's endorsement of both Dogecoin and Trump may have been a driving force behind the recent price surge. It's worth noting that the Supertrend 3-month indicator from cryptocurrency analyst Surf DOGE has turned bullish. The last time this indicator turned green was in April 2017, leading to a significant increase of 5,587% in January 2018 and another surge of 3,837% to $0.7390 in May 2021. If history repeats itself, Dogecoin could witness another major price increase. Analysts discuss the possibility of Dogecoin reaching $0.5. Dogecoin once again demonstrates its ability to increase rapidly in price. Its recent activity may even be the start of something more significant. Analysts are currently speculating whether Dogecoin can regain its previous prominence and reach new heights. Some technical analysis has emphasized that Dogecoin is currently showing a clear bullish trend. The change in market momentum follows DOGE's recent price increase above the major demand level. "Strong buy signal" could mean this momentum has the potential to push Dogecoin to the $0.50 threshold, which is a significant psychological and technical level. However, for this scenario to occur, Dogecoin needs to overcome the resistance level at a high local level. Overcoming these resistance levels could set the stage for a significant price increase, possibly reflecting its strongest movements from previous market cycles. It is worth noting that with Trump's inauguration only two weeks away, people are eagerly anticipating that DOGE will be affected by the new government. Therefore, achieving this will require continuous support from a larger market and consistent participation from its dedicated community. Finally, if the upward trajectory continues, DOGE has the potential to once again lead the altcoin space. It will evoke memories of the astonishing potential even for the most experienced meme-coin traders. Meanwhile, DOGE is trading around $0.389, reflecting a 11.51% increase in the past 24 hours and 23% increase in the past week. Will Dogecoin benefit from Elon Musk's new payment system? X, a social media platform, has announced its intention to introduce a payment processing platform this year. The company, owned by Tesla CEO Elon Musk's group, is the most prominent supporter of DOGE. Recently, MacRumors has revealed leaked source code believed to be from X's new online payment service. Although there is no official confirmation that the code actually comes from the upcoming payment platform, the disclosure is said to have further fueled enthusiasm for the service. The cryptocurrency industry is waiting to see if it will incorporate any type of cryptocurrency and which one. Up to now, there is still no definite sign of integrating DOGE into the X payment network. However, this does not hinder the smooth growth of this popular meme currency; instead, it may have impacted that growth. Note that Dogecoin primarily operates as an investment and speculative payment mechanism, and its valuation is closely tied to market trends and overall market sentiment. Therefore, if X's payment system includes this token as one of its main supported cryptocurrencies, it could lead to a significant increase in valuation.