Dogecoin vs PEPE, Will DOGE Stage a Comeback?

Dogecoin experienced significant price fluctuations of 3.06% following the demise of the renowned Shiba Inu dog.

Conversely, the PEPE coin surged over 12% in a single day, reaching an unprecedented high.

On Monday, major cryptocurrencies encountered a downturn, with Bitcoin (BTC), XRP, and Dogecoin (DOGE) leading the decline. Bitcoin decreased by 0.96%, settling at $68,375, while Ethereum defied the trend, rising over 4% to reach $3,950.

The meme coin market, however, remains buoyant, particularly with the ongoing rivalry between Dogecoin and PEPE coin. Dogecoin, in particular, has exhibited volatility, with slight price declines following the loss of the iconic Shiba Inu dog. PEPE coin, on the other hand, has witnessed a 12% rally in the last 24 hours, hitting new all-time highs of $0.00001718. Despite this, Dogecoin maintains a strong position with substantial support.

Will Dogecoin (DOGE) Attain New Heights?

Over the past week, Dogecoin has enjoyed an 11.31% increase, and despite a 3.06% dip in the last 24 hours, it remains on a bullish trajectory. The coin experienced a monthly surge of more than 17%, with its current price at $0.1685 and a market capitalization exceeding $24.34 billion. However, its daily trading volume dropped by over 31% to $1.12 billion.

Dogecoin (DOGE) Price Chart (Source: CoinMarketCap)

Historically, Dogecoin has displayed similar patterns, particularly evident during its 2021 cycle. If Dogecoin maintains its foothold above $0.1521, it could trigger its rally to $0.1892, potentially reaching $0.2187 and $0.2378. Conversely, if DOGE fails to remain above this critical resistance level, we could witness DOGE falling to $0.1368 and $0.1164, possibly plunging further into bearish territory below $0.08939.

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