Dogecoin Price Slides But Traders are Backing Dogeverse to See Big Gains

Dogecoin Price Slides, but Dogeverse Traders Anticipate Significant Gains

Original Source: Coinpedia Fintech News

Dogecoin has experienced a 7% decline amid a broader market pullback. However, the recently launched multichain meme coin, Dogeverse, has demonstrated resilience, surpassing $10 million in its presale.

Dogecoin Slides but Remains Bullish

Dogecoin has undergone a more severe retracement than the market average, but prominent trader Ali Martinez remains optimistic about its long-term prospects.

Currently trading at $0.1498, Dogecoin has fallen 7% today, 0.5% this week, 13.4% this month, and 90% this year. It maintains a $21 billion market cap and a $1.4 billion 24-hour trading volume, up 27% today.

Martinez, known as Ali Charts on Twitter, analyzed Dogecoin's current price action, observing its consolidation within a zone after breaking through a macro trendline resistance level. He emphasized that this pattern is consistent with Dogecoin's previous macro breakouts.

"Dogecoin is showing its classic pattern once again!" Martinez tweeted. "DOGE is currently consolidating after breaking out from a descending triangle."

"Based on past trends, we might see DOGE rocket towards $1 in the coming weeks," he added, overlaying a price chart with a potential trajectory that suggests DOGE could reach highs of $5 this cycle.

In an earlier tweet, Martinez underscored Dogecoin's importance as "the most important altcoin" in the meme coin sector, basing his bullish outlook on its price action:

"From a technical perspective, DOGE seems to mirror the 2018-2021 pattern. If so, DOGE could be at the very beginning of a massive parabolic bull run."

Martinez's analysis provides an optimistic outlook for Dogecoin, encouraging investors to remain hopeful for an impending uptrend continuation despite the ongoing consolidation.

Dogeverse: A Potential 100x Meme Coin

While Dogecoin has faced challenges this month, the new meme coin Dogeverse has emerged as a promising alternative, having raised over $10 million in its presale.

Dogeverse has garnered support from top media outlets and industry experts, including CryptoPotato, Cointelegraph, and Jacob Bury, who speculate it holds 100x potential.

Its unique use case as the first multichain Doge-themed cryptocurrency has driven its momentum. Dogeverse is launching across Ethereum, Polygon, Base, BSC, and Avalanche, with Solana soon to be added.

By breaking down blockchain fragmentation and uniting different communities, Dogeverse offers tangible advantages such as increased accessibility and reduced risk of migration to other networks.

Those interested in investing in Dogeverse should act quickly as the presale price will increase throughout the campaign, with the next rise in six hours or when the total raise reaches $11.2 million.

Visit Dogeverse Presale