Following the Dogecoin price change in the last 24 hours, experts are beginning to see this shoot up as a signal to closely watch the future of the meme coin. However, although the 24-hour change saw the coin pump over 10%, analysts say the setup does not look like it could take the coin higher.

This is because investors' confidence is still low from the bearish hit that dropped the price below a 5-month low. But with the rising number of investors in the crypto market in the last few months, if the Dogecoin price does not reflect a long-term surge, where is the money going?

Why The Dogecoin Price Is Seeing A Growth Delay

While Dogecoin remains the biggest meme coin in the world, its price action in the last few months has not been impressive. Many analysts have tried to analyze why …