Dogecoin Price Jumps 15% As Whales Move DOGE To Robinhood Amid SEC Wells Notice; Dogeverse ICO Goes Ballistic

Dogecoin Price Dips Slightly, but Remains Up on Weekly Chart

Despite a 2% decline in the past 24 hours, Dogecoin (DOGE) is still up over 15% on the weekly timeframe, trading at $0.1566 as of 8:30 a.m. EST. This dip can be attributed to investors taking profits.

DOGE Whales Transfer Millions to Robinhood

DOGE whales have been highly active in the past day. Whale Alert reported a transfer of 400 million DOGE tokens, worth approximately $63 million, from an unknown wallet to Robinhood. This movement coincides with Robinhood's recent disclosure of receiving a Wells Notice from the Securities and Exchange Commission (SEC).

🚨 🚨 🚨 400,000,000 #DOGE (62,825,933 USD) transferred from unknown wallet to #Robinhood
https://t.co/Ghy0dGLZky
— Whale Alert (@whale_alert) May 7, 2024

Dogecoin Price Faces Resistance

4-Hour Chart for DOGE/USDT (Source: TradingView)

DOGE briefly broke above the $0.16394 resistance level but was unable to sustain a 4-hour candle close above it. This led to a slight correction.

Bulls may attempt another challenge at this resistance level. A 4-hour candle close above $0.16394 within the next 12 hours could provide a strong foundation for further growth. Traders may consider a long entry at this point.

If buy pressure persists, DOGE could climb to $0.17440 and potentially flip the resistance into support.

On the downside, a drop below $0.15150 in the next 24 hours could invalidate the bullish thesis. DOGE may then face further declines, potentially reaching $0.14463 or even $0.13512.

Dogecoin Attempts to Break Bearish Trend

Technical indicators on DOGE's 4-hour chart suggest that the bearish trend is nearing its end.

• Moving Average Convergence Divergence (MACD): The MACD is in a negative phase, but the gap between the MACD and MACD Signal line is narrowing, indicating a potential reversal.
• Relative Strength Index (RSI): The RSI is gradually recovering, approaching the Simple Moving Average (SMA), suggesting that buyers are gaining strength.

A break above the SMA could signal a potential long entry, especially after DOGE crosses above the $0.16394 resistance level.

Dogeverse ICO Benefits from DOGE's Momentum

Dogeverse (DOGEVERSE), a multi-chain meme coin, is poised to benefit from DOGE's positive momentum.

Unprecedented Utility Across Multiple Chains

DOGEVERSE offers unparalleled utility by residing on multiple blockchain networks, including Ethereum, Avalanche, Solana, BNB Chain, Base, and Polygon. This allows investors to seamlessly transfer value and participate in DeFi protocols across these networks.

Attractive Staking Opportunities

DOGEVERSE provides investors with lucrative staking opportunities, offering up to 73% in annual rewards.

Last Chance to Buy Before DEX Listing

Dogeverse is offering investors a final opportunity to purchase the meme coin before its official launch and DEX listing. The presale has attracted over $13 million in funding, with strong momentum expected to continue.

Investors can acquire DOGEVERSE on the project's official website using various cryptocurrencies or bank cards.

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Source: https://thebittimes.com/dogecoin-price-jumps-15-as-whales-move-doge-to-robinhood-amid-sec-wells-notice-dogeverse-ico-goes-ballistic-tbt87665.html