Dogecoin Price Prediction: DOGE Tops Meme Coin Gainers With 8% Pump As This PEPE 2.0 ICO Rockets Towards $20 Million

Dogecoin Price Surges, Signaling Bullish Breakout

Over the past 24 hours, Dogecoin (DOGE) has experienced an 8% surge, reaching $0.1253 as of 6:50 a.m. EST, accompanied by a 109% increase in trading volume to $2.2 billion.

Technical Analysis: Cup and Handle Pattern

According to Tradingview, Dogecoin's daily chart on Binance displays a bearish channel characterized by lower highs and lows. However, a potential trend reversal occurred when the price broke out of this channel in mid-July after reaching a low of $0.079.

A cup and handle pattern has emerged, indicating a bullish trend continuation. The "cup" has formed, with the price bottoming at $0.079 and gradually recovering. The "handle" is in progress, and a breakout above the resistance level of $0.13, coinciding with the 50-day SMA, could confirm a bullish move. This could potentially push DOGE towards a target price between $0.18 and $0.20.

RSI and Support Zone

The Relative Strength Index (RSI) is approaching the overbought zone of 70 at 67.69, suggesting strong bullish momentum but also the possibility of a short-term pullback. If the RSI crosses into overbought territory, a slight pause in the rally might ensue.

Dogecoin has a key support zone between $0.105 and $0.11, which aligns with the 200-day Simple Moving Average (SMA) at $0.10672. This level has provided multiple bounce-offs for DOGE.

Meme Coin Alternatives

Traders seeking potential meme coin investments may want to consider Pepe Unchained (PEPU), a Layer 2 meme coin that has recently raised over $19.9 million in one of the year's largest presales. PEPU aims to "unchain" PEPE, currently the third-largest meme coin, from the Ethereum blockchain's limitations through its proprietary Layer 2 blockchain, Pepe Chain. Pepe Chain offers faster transactions and lower gas fees, along with a dedicated block explorer and a developer grant program to encourage ecosystem growth.

With speculations of a potential centralized exchange (CEX) listing by the end of the year, PEPU tokens are available for purchase at $0.0103 using various payment methods, including USDT, BNB, ETH, and bank cards.