Dogecoin Price Skyrockets

The Dogecoin price surge continues with a 47% increase in the past 24 hours, reaching $0.4087 as of 2:30 a.m. EST. Trading volume has also spiked by 48% to $26.53 billion.

Market Analysis

Dogecoin, the venerable meme coin, has climbed 146% in the last week, testing the resistance level at $0.40. The surge began on November 10, buoyed by Bitcoin's rally towards $90,000 and a post-election bull run.

Dogecoin has now surpassed XRP as the sixth-largest meme coin by market cap and is approaching its May 2021 ATH of $0.7376. However, it remains 44% below this previous high.

Bullish Momentum

The market remains bullish, driven by Elon Musk's support and Dogecoin's fundamental strength. The project's technical indicators suggest continued bullishness despite the recent resistance.

RSI and Bollinger Bands

Dogecoin's Bollinger bands have narrowed slightly, indicating potential struggles. However, the price is trending towards the middle point between the two bands, suggesting a possible breakout of the resistance.

Additionally, the Relative Strength Index (RSI) has oscillated between oversold and neutral zones, indicating strong buy pressure. A recent spike in RSI to 82.34 led to a minor price drop, reinforcing the resistance.

Promising Alternative

Analysts suggest Pepe Unchained (PEPU) as a promising alternative to Dogecoin. This meme coin, based on the popular Pepe the Frog meme, has gained significant traction recently.

PEPU Features

PEPU differentiates itself from other meme coins by operating on its own Layer 2 blockchain. This avoids Ethereum's scalability issues and high transaction fees.

Price and Availability

PEPU tokens are currently available for purchase at $0.01259 each during the presale. The presale is set to end in one day, after which the price may increase.

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