Both individual and professional investors are paying attention as Dogecoin (DOGE), a fun cryptocurrency born from internet culture, is experiencing an unexpected surge.

With prices rising by almost 10% in just one day this week, there has been a 37% increase over the past week, as reported by CoinGecko. This sudden rise has excited the "Doge army," but experts warn that the future of this meme-inspired coin may not be without challenges.

Starting as a joke on Bitcoin in 2013, Dogecoin has become a symbol of community-focused digital currency, drawing in a dedicated following. Despite the recent increase, Dogecoin is still far from its highest value of $0.73 in May 2021.

Technically, Dogecoin seems to have found a safe level at $0.1599, with resistance at the recent high of $0.2184. As the weekend approaches, speculation is high. Some analysts predict a possible 6-7% drop in DOGE in the days ahead.

The discussion around what drives Dogecoin's value is reignited by this forecast. While the coin has a devoted community and strong brand recognition, its value is influenced by the volatile crypto market. Speculative trading, investor sentiment, and overall market trends all have a big impact.

Social media, along with endorsements from celebrities like Elon Musk, has played a major role in the price swings of Dogecoin. Musk's tweets, often referencing the Doge meme, have led to sudden spikes in buying, resulting in sharp changes in value.

Recent increases in whale activity have coincided with the rise in Dogecoin's price. This rise in whale holdings has boosted investor confidence in Dogecoin as they influence market trends and prices.

Dogecoin's adoption by Coinbase Derivatives represents a significant shift in its perception, acknowledging its growth from an internet joke to a legitimate crypto asset.

The longevity and expansion of Dogecoin beyond its meme origins show increasing interest from institutional and individual investors. With the anticipation around the Coinbase IPO, Dogecoin's recent gains demonstrate its durability and appeal in the ever-evolving cryptocurrency space.