– DOGE has recorded huge weekly losses following the crypto market dump.- Traders expect that Doge Day and Bitcoin halving could trigger a price rally.- DOGE has witnessed impressive growth in its on-chain data as investors refrain from taking profits.Dogecoin (DOGE) is gradually recovering from the recent crypto market crash, but recent moves from Toncoin have seen it slip to number ten among top cryptocurrencies by market capitalization on Monday.
While DOGE hasn’t posted impressive gains in the past two weeks, on-chain data signifies traders expect a bullish run.Also read: [Dogecoin price could make a 15% recovery as DOGE market attempts to determine a bottom](https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-could-make-a-15-recovery-as-doge-market-attempts-to-determine-a-bottom-202404130500) Dogecoin is poised for a rally Dogecoin took a hit alongside other altcoins on Friday following the crypto market crash.Despite improvements in several of its on-chain metrics, DOGE’s price has yet to reflect growth.In the past week, DOGE has lost more than 24% of its value amid a general calm in the meme category.
This has caused it to lose its number nine spot in the top cryptos by market cap to Toncoin.The new week may differ as Doge Day coincides with the fourth Bitcoin halving event.
The Dogecoin community sets aside April 20 to celebrate the largest meme coin every year.While the last two Doge days—2022 and 2023—have been lackluster, investors are expecting this year to be different, considering it coincides with the Bitcoin halving.
On top of this, Coinbase will also list a Dogecoin futures contract on April 29 after gaining approval from the Commodity and Futures Trading Commission (CFTC).Read more: [Doge contributor warns of extreme volatility amid Coinbase listing of DOGE and PEPE futures products](https://www.fxstreet.com/cryptocurrencies/news/doge-contributor-warns-of-extreme-volatility-amid-coinbase-listing-of-doge-and-pepe-futures-products-202404112249) As a result, traders are moving the meme assets away from exchanges.
Over the weekend, one whale moved 150,000,000 DOGE worth more than $26 million from crypto exchange Robinhood to an unknown wallet, according to data from Whale Alert.Within seven days, exchanges have seen net withdrawals of 110 million more DOGE than deposits.
Dogecoin has also recorded an increase in users, as 6.3 million new addresses joined the network in the past 30 days.Additionally, according to data from IntoTheBlock, 85% of DOGE holders are in profit, but they are holding onto their tokens, which indicates bullish sentiments.Although DOGE has no fundamentals that can catapult its rise, traders may be targeting DOGE day, the [Bitcoin](https://www.fxstreet.com/cryptocurrencies/bitcoin) halving, and the Coinbase DOGE futures listing as potential rally triggers for the meme coin.Also read: [Dogecoin price is set and ready for a run up, but there’s a catch](https://www.fxstreet.com/cryptocurrencies/news/dogecoin-price-is-set-and-ready-for-a-run-up-but-theres-a-catch-202404022100) DOGE is trading at $0.16, up 4.6% in the past 24 hours.
Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.You should do your own thorough research before making any investment decisions.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
The author will not be held responsible for information that is found at the end of links posted on this page.If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.FXStreet and the author do not provide personalized recommendations.
The author makes no representations as to the accuracy, completeness, or suitability of this information.FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.[Join Telegram](https://t.me/fxstreetcrypto) Recommended Content Editors’ Picks [XRP recovers from weekend massive decline after developers propose native lending on XRP Ledger](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-recovers-from-nearly-eleven-month-low-of-041-as-developers-propose-native-lending-on-xrpledger-202404150604) [](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-recovers-from-nearly-eleven-month-low-of-041-as-developers-propose-native-lending-on-xrpledger-202404150604) Ripple surged past $0.50 on Monday, recovering from an eleven-month low of $0.4188 reached on Saturday after XRP Ledger developers proposed a native lending protocol to help Ripple establish a foothold in DeFi, lending and borrowing for users.[More Ripple News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Ripple) [Axie Infinity price faces risk of extending downtrend as holders dump AXS at losses](https://www.fxstreet.com/cryptocurrencies/news/axie-infinity-price-faces-risk-of-extending-downtrend-as-holders-dump-axs-at-losses-202404150924) [](https://www.fxstreet.com/cryptocurrencies/news/axie-infinity-price-faces-risk-of-extending-downtrend-as-holders-dump-axs-at-losses-202404150924) Axie Infinity has seen a 58% increase in active addresses since April 6, signalling that user activity on AXS is on the rise.AXS holders realized nearly $165.6 million in losses since April 6.[More Cryptocurrencies News](https://www.fxstreet.com/cryptocurrencies/news) [Week Ahead: Crypto market volatility likely to come back as BTC halving looms](https://www.fxstreet.com/cryptocurrencies/news/week-ahead-crypto-market-volatility-likely-to-come-back-as-btc-halving-looms-202404150802) [](https://www.fxstreet.com/cryptocurrencies/news/week-ahead-crypto-market-volatility-likely-to-come-back-as-btc-halving-looms-202404150802) This week’s outlook is interesting since Bitcoin (BTC) has swept the range low on the daily time frame.
This development, coupled with the upcoming halving event, suggests that a short-term correction play is in the works.[More Bitcoin News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Bitcoin) [Solana Price Prediction: SOL primed for recovery if bulls hold $130](https://www.fxstreet.com/cryptocurrencies/news/solana-price-prediction-sol-primed-for-recovery-if-bulls-hold-130-202404140830) [](https://www.fxstreet.com/cryptocurrencies/news/solana-price-prediction-sol-primed-for-recovery-if-bulls-hold-130-202404140830) Solana (SOL) price is nurturing a recovery rally along with the broader market as Bitcoin price reclaims $64,000.Amid mounting selling pressure, SOL dipped 20% on the weekly timeframe and 5% in the last day.[More Solana News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Solana) [Bitcoin: BTC’s rangebound movement leaves traders confused](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btcs-rangebound-movement-leaves-traders-confused-202404120732) [](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btcs-rangebound-movement-leaves-traders-confused-202404120732) Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement.
This development could lead to a massive liquidation on either side before a directional move is established.[Read full analysis](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btcs-rangebound-movement-leaves-traders-confused-202404120732).
