Dogecoin Price Prediction: As Shark Tank Investor Mark Cuban Praises DOGE, Pepe Unchained Races Towards $18M In Presale

Dogecoin Price Analysis

Over the past 24 hours, Dogecoin (DOGE) has surged by 4%, reaching $0.1078 as of 03:26 a.m. EST, with trading volume decreasing by 5% to $815 million.

Influential Supporters and Risk

Shark Tank's Mark Cuban, an avid Dogecoin supporter, recently stated that while meme coins pose the risk of "rug pulls," this inherent uncertainty contributes to their appeal. Despite this cautious approach, Cuban remains optimistic about Dogecoin.

"Dogecoin is more for fun and community," Cuban noted. "I support them all. I recognize their entertainment value, utility, and store of value."

Market Trends and Technical Analysis

Dogecoin's price chart indicates a significant rally earlier this year followed by a decline, and the price is currently consolidating or attempting a reversal. Technical indicators show a sideways trend.

According to GeckoTerminal data, DOGE has potential for upward momentum if it remains above the 50-day Simple Moving Average (SMA) and fills the Fair Value Gap (FVG) at $0.142. However, resistance remains at the 200-day SMA, currently at $0.1343.

The Relative Strength Index (RSI) is around 48.96, close to the neutral level of 50, suggesting a balanced market. Bearish sentiment may still exist, but no extreme pressure in either direction is evident.

Altcoin Hype

Pepe Unchained (PEPU) has gained significant attention and funding, with a successful presale raising over $17.3 million. Whale investors have also taken notice, with one recently purchasing $58,000 worth of PEPU.

PEPU aims to upgrade the original PEPE project, offering its own Ethereum Layer-2 blockchain for increased speed, efficiency, and scalability. Staking PEPU tokens can also earn passive income with an annual yield of 125%.