Dogecoin Price Forecast: Is DOGE Primed for a 99% Surge?
Over the last 24 hours, the Dogecoin price has surged by a modest 2.01% amid broader market growth, where meme coins averaged a 3.1% increase.
This comes amidst anticipation of a substantial breakout following Dogecoin’s recent disappointing price action.
Today’s growth adds to a 5.6% rise in Dogecoin price since last Monday, aligning with the growth seen in leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Indeed, despite less than optimal price action in recent weeks, trader interest in Dogecoin remains robust – the coin’s 24-hour trading volume has surged by 31.24% over the past day.
Dogecoin Price Forecast Hints at a Rally – 99% breakout incoming?
An interesting pattern is forming on the Dogecoin chart, hinting at a potential 99% breakout in the coming days.
Dogecoin has been in a falling wedge pattern (white) since the March mini-bull run when it surged to $0.22.
This pattern indicates that the downward momentum is weakening, and a bullish reversal is likely when the price breaks above the upper trend line.
However, this multi-month pattern is nearly coming to an end as the Dogecoin price has begun moving up recently in line with Bitcoin’s recovery.
This new upward momentum is bolstered by Dogecoin’s relative strength index (RSI) (purple), currently at 45 and rising. This marks a recovery from its oversold conditions last week when it was around 20.
Although neutral, an RSI of 45 leans slightly towards bearishness. Therefore, if the RSI can surpass the midpoint level at 50, it would reinforce this bullish momentum.
However, the prevailing wider trends still present some challenges. Most notably, the 30-day moving average (yellow) is still trending downward, despite the 200-day moving average (blue) and its uptrend.
This suggests that the short-term momentum is still weak despite the long-term trend being bullish. Therefore, there may be some consolidation in the Dogecoin price before we see significant upside.
Taking a closer look at the chart, this appears to be the case, with the Dogecoin price ranging between the upper $0.12859 and lower $0.12050 levels (white) since early last week.
Therefore, there is a strong case for a breakout given current indicators, potentially as much as 2x. In fact, some experts even see Doge going further.
However, it’s important to note that DOGE lacks real fundamentals, leading some investors to explore presales of other assets with greater growth potential.
Low-Cap Meme Coin With Higher Gains Potential
While doubling your investment is appealing, strategic investors seeking rapid gains might discover more promising opportunities by exploring newer low-cap meme coins ready for explosive growth
Enter PlayDoge ($PLAY), the latest meme coin capturing the attention of meme fans, gamers, and crypto enthusiasts.
Introducing #PlayDoge – the only #P2E Doge companion!
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY.
Don't neglect your doge, his life's on the line
Join the #Presale Now
https://t.co/JT0VEofqf2 pic.twitter.com/RoJYXLS1FH
— PlayDoge (@PlayDogeGame) June 3, 2024
The meme coin market is over-saturated with Shiba Inu-themed coins boasting little to no real utility. In contrast, PlayDoge stands out by focusing on gaming utility.
It transforms the iconic Doge meme into a play-to-earn Tamagotchi-style virtual pet, tapping into 90s nostalgia. This unique approach may credit $PLAY’s recent success, raising over $5M in its presale so far.
PlayDoge will enable players to earn rewards by nurturing their pets and taking them on adventurous journeys. Timely feeding, training, and sleep all contribute to the rewards earned by the conscientious pet owner.
Leveraging the global appeal of the beloved Doge meme and the industry valued at $20B according to CoinMarketCap data, the growth potential is substantial.
And with the fixed presale price increasing every few days, if you want to make the most of this opportunity you need to act now.
Keep in touch with project developments by joining the community on X and Telegram.
The post Dogecoin Price Forecast: Is DOGE Primed for a 99% Surge? appeared first on Cryptonews.
Read More
Dogecoin Price Forecast: Is DOGE Primed for a 99% Surge?
Over the last 24 hours, the Dogecoin price has surged by a modest 2.01% amid broader market growth, where meme coins averaged a 3.1% increase.
This comes amidst anticipation of a substantial breakout following Dogecoin’s recent disappointing price action.
Today’s growth adds to a 5.6% rise in Dogecoin price since last Monday, aligning with the growth seen in leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Indeed, despite less than optimal price action in recent weeks, trader interest in Dogecoin remains robust – the coin’s 24-hour trading volume has surged by 31.24% over the past day.
Dogecoin Price Forecast Hints at a Rally – 99% breakout incoming?
An interesting pattern is forming on the Dogecoin chart, hinting at a potential 99% breakout in the coming days.
Dogecoin has been in a falling wedge pattern (white) since the March mini-bull run when it surged to $0.22.
This pattern indicates that the downward momentum is weakening, and a bullish reversal is likely when the price breaks above the upper trend line.
However, this multi-month pattern is nearly coming to an end as the Dogecoin price has begun moving up recently in line with Bitcoin’s recovery.
This new upward momentum is bolstered by Dogecoin’s relative strength index (RSI) (purple), currently at 45 and rising. This marks a recovery from its oversold conditions last week when it was around 20.
Although neutral, an RSI of 45 leans slightly towards bearishness. Therefore, if the RSI can surpass the midpoint level at 50, it would reinforce this bullish momentum.
However, the prevailing wider trends still present some challenges. Most notably, the 30-day moving average (yellow) is still trending downward, despite the 200-day moving average (blue) and its uptrend.
This suggests that the short-term momentum is still weak despite the long-term trend being bullish. Therefore, there may be some consolidation in the Dogecoin price before we see significant upside.
Taking a closer look at the chart, this appears to be the case, with the Dogecoin price ranging between the upper $0.12859 and lower $0.12050 levels (white) since early last week.
Therefore, there is a strong case for a breakout given current indicators, potentially as much as 2x. In fact, some experts even see Doge going further.
However, it’s important to note that DOGE lacks real fundamentals, leading some investors to explore presales of other assets with greater growth potential.
Low-Cap Meme Coin With Higher Gains Potential
While doubling your investment is appealing, strategic investors seeking rapid gains might discover more promising opportunities by exploring newer low-cap meme coins ready for explosive growth
Enter PlayDoge ($PLAY), the latest meme coin capturing the attention of meme fans, gamers, and crypto enthusiasts.
Introducing #PlayDoge – the only #P2E Doge companion!
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY.
Don't neglect your doge, his life's on the line
Join the #Presale Now
— PlayDoge (@PlayDogeGame) June 3, 2024
The meme coin market is over-saturated with Shiba Inu-themed coins boasting little to no real utility. In contrast, PlayDoge stands out by focusing on gaming utility.
It transforms the iconic Doge meme into a play-to-earn Tamagotchi-style virtual pet, tapping into 90s nostalgia. This unique approach may credit $PLAY’s recent success, raising over $5M in its presale so far.
PlayDoge will enable players to earn rewards by nurturing their pets and taking them on adventurous journeys. Timely feeding, training, and sleep all contribute to the rewards earned by the conscientious pet owner.
Leveraging the global appeal of the beloved Doge meme and the industry valued at $20B according to CoinMarketCap data, the growth potential is substantial.
And with the fixed presale price increasing every few days, if you want to make the most of this opportunity you need to act now.
Keep in touch with project developments by joining the community on X and Telegram.
The post Dogecoin Price Forecast: Is DOGE Primed for a 99% Surge? appeared first on Cryptonews.
Read More