Dogecoin price forecast remains bullish following a 5% daily gain and 42.5% monthly rally as sovereign Bitcoin adoption fuels sentiment. Saudi Arabia’s Bitcoin Signal Lifts Dogecoin and Memecoin markets On May 16, Saudi Arabia’s Central Bank confirmed the purchase of 25,656 shares of Strategy (formerly MicroStrategy), a company holding over 200,000 BTC. The $10.2 million investment came during former U.S. President Donald Trump’s diplomatic visit to Riyadh and has been widely interpreted as a signal of indirect Bitcoin adoption by the oil-rich kingdom. This development, viewed as a major milestone in sovereign Bitcoin accumulation, has electrified crypto markets. Ethereum jumped 3% on Sunday to reclaim $2,550, accompanied by a trading volume surge from $12.5 billion to $15 billion. Bitcoin itself retested the $105,000 mark, buoyed by speculation that further investments from other sovereign wealth fund mirroring Saudi’s move could ignite another leg up toward new all time highs, in the… Read More at Coingape.com
The post Here’s Dogecoin Price Prediction if Saudi Arabia Central Bank Drives BTC to $250,000 appeared first on CoinGape.
