Dogecoin Price Prediction: DOGE Drops 6% As Whale Buys $500k Of This Cat-Themed Meme Coin Before “Major Announcement”

Dogecoin Price Drops 6%

The price of Dogecoin has plummeted 6% in the past 24 hours, trading at $0.415 as of 2 a.m. EST on a trading volume that increased 1% to $10.31 billion.

While Dogecoin remains up 3% on a weekly chart, it has faced a sharp decline since the beginning of this week. Its price initially reached $0.4575 on Monday morning, followed by a steep drop to $0.40.

After a slight recovery, Dogecoin stabilized below the $0.43 resistance level. However, this resistance has now rejected the coin.

Dogecoin Price Prediction

Dogecoin's price has witnessed a sudden dip, with technical indicators suggesting further decline.

The Bollinger bands for Dogecoin have narrowed in the past 8 hours. While the price initially moved from the lower band to the upper band and back to the midpoint, the latest decline has pushed it below the lower band, indicating a potential sell-off.

The Relative Strength Index (RSI) also reflects this downward trend, as its value has dropped towards the oversold area. Although traders may attempt to buy once the RSI reaches 30, the current bearish wave appears strong and could drive the RSI below 30 before a recovery.

Promising Alternative to Dogecoin

Given the volatility and unpredictability of meme coins, investors may consider alternative options. One promising choice is Catslap (SLAP).

Catslap has surged 75% in the past 24 hours. It describes itself as "crypto's most aggressive feline" and aims to challenge established meme coins.

Catslap recently introduced a "Slap-To-Earn" model on its platform, enabling users to earn SLAP tokens through engagement.

The project's current price spike follows a $500,000 purchase of SLAP tokens by a whale investor. Catslap has also hinted at an upcoming announcement, generating further excitement.

With strong community support and a skyrocketing price of $0.005707, Catslap is worth exploring as an alternative to Dogecoin. The project's Slapometer, which tracks community engagement, has recorded tens of millions of slaps daily.

Catslap has already burned a significant number of SLAP tokens and is poised for potential gains.