Dogecoin Price Starts Week by Breaching $0.08 – Is $0.1 Incoming as This New Meme Coin Receives Bullish Backing

The post Dogecoin Price Starts Week by Breaching $0.08 – Is $0.1 Incoming as This New Meme Coin Receives Bullish Backing appeared first on Coinpedia Fintech News

Dogecoin has surged today, while many other cryptocurrencies have slumped. Currently, the leading meme coin is trading at $0.08094, up 3.41% in the last 24 hours. This puts DOGE as the best-performing top-50 crypto by market cap – will this momentum finally push it past $0.1?

Meanwhile, presale crypto Meme Kombat has also boomed, recently surpassing $2.1 million. Its explosive presale has compelled top industry analysts to provide some exciting predictions.

Trader Predicts Dogecoin Will Hit $0.1 After Spotting “Three Drives Pattern”

TradingView analyst Yaroslav_Krasko recently provided a Dogecoin daily time frame chart analysis, predicting that the price will soon hit $0.1 and climb to $0.16.

The trader noticed a “three drives” chart pattern. This is where the price creates three symmetrical drives or moves up or down. In Dogecoin’s case, the drives are down, making this a bullish three-drive pattern, likely to be followed by a break out to the upside.

Given the macro scale of the chart pattern formation, Yaraslav_Krasko forecasts significant gains after the breakout.

The analysis refers to Dogecoin’s current trajectory as setting the stage “for a unique interplay of liquidity dynamics, often observed in breakout scenarios.”

Other analysts are also significantly bullish on Dogecoin, with prominent X influencer KALEO offering commentary since it touched a trend line support at $0.7 last week.

KALEO noted a “Clean bottom wick into support” and said, “Send it higher,” referring to Dogecoin creating new local highs.

In a more recent tweet, KALEO referred to Dogecoin’s subsequent price action as a “solid recovery.”

Dogecoin suffered a particularly bad bear market and made little progress as other cryptos like Dogecoin and Ethereum pumped over the last year. As such, it makes sense that it has begun outperforming the market.

However, its recent pump may be attributed to a resurfacing video on X of Elon Musk commenting on Dogecoin.

Musk alluded that Dogecoin could be used for everyday purchases thanks to its low fees and superior scalability to Bitcoin. He described the meme coin as “better suited for transactions.”

The interview occurred in 2021, but prominent influencer AltcoinDaily reposted it earlier today, and the video has amassed over 290K views so far.

Ultimately, this shows that the Dogecoin and meme coin narrative may be heating up again. With crypto prices slated to boom in the coming months thanks to the Bitcoin halving and Bitcoin and Ethereum spot ETFs, this could push Dogecoin and other meme coins to explode again.

With this in mind, analysts are backing Meme Kombat for parabolic gains. The project is currently undergoing a presale, which is gathering massive momentum thanks to its unique GambleFi utility.

Multi-Purpose Staking Coin Meme Kombat Backed to 10X and Offers 419% APY

Meme Kombat is a multi-purpose meme coin that offers staking and lets users gamble on AI-generated battles between infamous meme coin characters.

As well as providing a more immersive and exciting experience for users, this also offers multiple utilities to Meme Kombat, a significant advantage over Dogecoin and most other meme coins.

The project’s presale has raised over $2.1 million in eight weeks. Its early success has captured the attention of numerous top analysts, with Jacob Bury predicting it could 10x. Bury references advantages like a KYC’d team and its high staking APY.

Meanwhile, analyst Crypto Zeus dubbed Meme Kombat “high reward,” highlighting its compelling use case as a reason it could explode.

As mentioned, Jacob Bury pointed out Meme Kombat’s lucrative staking APY. Presale buyers can begin staking their tokens immediately for a 419% APY. However, they must be quick because this incrementally decreases as the staking pool grows.

Another advantage that Bury highlighted was Meme Kombat’s KYCd team. This presents a considerable advantage over other meme coins since it adds transparency and accountability to the project, hinting at long-term potential. Additionally, the project features a smart contract audit, further attesting to its security.

Investors can buy Meme Kombat for $0.214, but this is set to rise to $0.225 in just three days.