The Dogecoin price has surged 7% in the last 24 hours to trade at $0.2018 as of 4:30 a.m. EST on trading volume that skyrocketed 36% to $2.66 billion.
Dogecoin Price Prediction
The charts show that Doge has received a rejection from the 100 EMA, although it did not yet touch the 200 EMA.
For now, the market participants are still waiting for the meme coin to reach the upper resistance line, and from there, the experts expect a potential reversal to happen, toward at least 200 EMA.
The meme coin’s Bollinger bands have also gotten very narrow in the last several hours, only to just now start showing very slow widening again. This is a bullish signal, although traders should keep in mind that the situation might reverse yet again at any time.
Finally, we take a look at Dogecoin’s Relative Strength Index (RSI), which has recently increased toward the overbought area, growing alongside the project’s price. Since then, however, it has seen a slight drop, from 68.18 to 58.74, now sitting much closer to a neutral position.
This suggests that traders have jumped on the opportunity to buy, and then with the new price rise, some have taken profit to make minor gains before the market turns on them.
On the negative side, this also means that another small correction is likely coming, which could potentially negate the effects of the recovery seen in the last 24 hours.
In other words, while the support at $0.20 is currently still holding as of the time of writing, DOGE might break it if the selling pressure increases again in the hours and days to come.
Promising Alternatives to Dogecoin
While Dogecoin is the oldest and largest among meme coins, a new dog-based cryptocurrency has recently been at the center of attention. The new meme token is known as Dogeverse (DOGEVERSE), and it’s the world’s first multichain meme coin.
#DOGEVERSE bringing in optimized costs and speed! 💰⚡
Users enjoy the ability to choose chains with lower transaction fees and faster processing times, significantly enhancing the trading and transaction experience. 🌐 pic.twitter.com/phcMnBhwLT
— DogeVerse (@The_DogeVerse) April 11, 2024
Dogeverse was designed to run on six different chains, including its native Ethereum, Solana, Base, BNB Chain, Avalanche, and Polygon. In doing so, it will make its native token, DOGEVERSE, available on every major DEX and CEX in the industry.
The face of the project is a dog called Cosmo, which has the power to hyperjump between different crypto stars, turning the popular Doge Meme into a symbol of creativity and unity.
The project is in the middle of a presale that started on April 8, and in under three days has already raised almost $2 million.
The DOGEVERSE price sits at $0.000292, although this will increase in under two days. So, if you are interested, act now to secure the lowest price using ETH, USDT, or bank cards.
Visit the Dogeverse presale here.
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