Dogecoin Price Prediction: DOGE Pumps 4% As This New SHIB P2E Meme Coin Blasts Past $500k

Dogecoin Price Surge

Over the past 24 hours, Dogecoin's price has surged by 4%, reaching $0.1089. This rise coincides with an increase in trading volume to $846 million, up 14%.

This recovery follows a surge over the weekend after a significant drop last week.

X Account Announcement

Dogecoin has posted on its X account for the first time since May, sharing an article highlighting its practical use as a medium of exchange for daily transactions.

The project emphasizes its focus on simplicity and accessibility, rather than profit-driven trading.

Dogecoin Price Prediction

Following last week's dip, Dogecoin's price rallied on Friday, briefly reaching $0.114 on Saturday. However, it corrected to $0.10 within 24 hours before another surge early on Monday, July 8.

Technical indicators suggest a positive outlook, indicating a potential bull run. However, these sharp surges often lose momentum, and the RSI (Relative Strength Index) has reached 79.77, indicating traders are buying in large volumes.

Traders who rely on RSI may consider selling soon, leading to a correction. This could occur as Dogecoin approaches the resistance at $0.12, which held back its price 24 hours ago.

Alternatively, the surge could continue if the rally gains enough strength to overcome concerns and attract new buyers.

Alternatives to Dogecoin

Given the potential for another correction, buying Dogecoin now carries some risk. Alternatives are available, such as Shiba Shootout (SHIBASHOOT), a high-potential meme coin ICO in the early stages of development.

Shiba Shootout is a dog-themed meme coin on Ethereum and Binance Smart Chain, combining the Doge meme with a Wild West theme. It features characters and a town called Shiba Gulch, where enthusiasts can participate in challenges and share memes.

The token has utility potential, including staking, and aims to represent innovation, creativity, and the spirit of the Wild West.

Shiba Shootout has gained attention from crypto YouTuber ClayBro, who projects potential returns of 20x after launch.

SHIBASHOOT tokens currently sell for $0.0195 and will remain at this price for approximately six days before increasing. Therefore, prospective investors have until the end of the week to secure SHIBASHOOT at the lowest price using ETH, BNB, USDT, or credit/debit cards.