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The JAKE price plunged 45% in the past 24 hours to trade for $0.001254 as of 05:45 a.m. EST alongside a 15% drop in trading volume.
It comes as sentiment shifts away from dog-themed tokens to cat-themed ones, with markets recording capital inflows into the likes of Ansem’s Cat (HOBBES), CateCoin (CATE), and BananaCat (BCT), which are up 16%, 10%, and 29%, respectively, today.
Traders are also cashing in on the gains made after JAKE token listed on multiple exchanges, including LBank and XT.com.
Get ready for some tail-wagging excitement! $JAKE (Jake The Dog) is bounding onto LBank! This meme token on Solana is packed with surprises, aiming to be the next big hit on the blockchain! Details: https://t.co/uVs9H6ghuJ
#crypto #JAKE #listing pic.twitter.com/bwtcrTd0g4— Ahmad Owaisi (@ahmadowaisi) March 30, 2024
The market is leaning in favor of more downside for the JAKE price with the token showing huge resistance. Multiple technical indicators are also flashing bearish, starting with the Relative Strength Index (RSI), which is below the 50 mean level.
The Moving Average Convergence Divergence (MACD) indicator is also in negative territory, pointing to a strengthening bearish cycle.
Enhanced profit booking could see Jake the Dog price extend the fall. This supposition is accentuated by the fact that the altcoin’s volume indicator is also dwindling, a sign of growing bearish sentiment.
TradingView: JAKE/USD 4-hour chart
Converse Case
However, if the bulls seize the opportunity to buy the dip, the Jake the Dog price could recover. While a flip of the $0.005010 roadblock into support would be ideal, the bearish thesis would only be invalidated if the JAKE price manages a higher high above $0.008000.
Meanwhile, investors are flocking to DOGE20 ahead of the International DOGE Day on April 20. It’s offering a last chance to buy after its presale sold out after raising $10 million.
Dogecoin surged 50% in the run-up to International DOGE Day last year, triggering buoyant sentiment around the biggest meme coin by market capitalization.
With this year’s DOGE Day a little over two weeks away, there is anticipation that another Dogecoin surge is on the cards. That is a perfect backdrop from which Dogecoin20 could explode when it goes live on DEXs on April 20.
Promising Alternative To Jake The Dog
Dog-themed token mania could also resume as the countdown to the International DOGE day continues. With this, DOGE20, the ticker for the Dogecoin20 project, is the surefire alternative to JAKE.
According to YouTube channel Crypto Gains, Dogecoin20 stands out as one of the hottest meme coins in the market right now.
Dogecoin20 aims to be the improved version of Dogecoin. It addresses the weaknesses seen in DOGE while offering a fresh opportunity for those who missed out on its stratospheric rise. That’s one key reason why its presale sold out its $10 million allocation in the blink of an eye.
Dogecoin20 brings on-chain staking to the Dogecoin ecosystem, providing passive income options for regular investors. Even those who bought during the presale can stake their coins and start earning rewards, currently at an annual percentage yield (APY) of 61%.
Dogecoin20 Tokenomics
Dogecoin20 has a fixed token supply, capped at a maximum of 140 billion tokens. This helps address inflation concerns while at the same time boosting investor confidence.
The project’s whitepaper lays out a transparent distribution plan, focusing on fairness and community involvement. 25% of the token supply is reserved for the presale, ensuring fair access for early backers.
Another 25% is for marketing efforts, with 15% earmarked for staking rewards to encourage token usage. Additionally, 10% is set aside to provide liquidity on decentralized exchanges, making trading smoother.
The remaining quarter is allocated to the project’s treasury, ensuring long-term sustainability and securing funds for future needs. Moreover, as an ERC-20 token, Dogecoin20 is compatible with various Ethereum-based wallets and platforms, making it easy for newcomers to engage in token transactions.
With presale tokens now sold out after reaching the $10 million hard cap, the potential for exponential growth post-launch is undeniable, with experts such as Crypto YouTuber Jacob Bury anticipating the potential for 100X growth.
DOGE20 is selling for just $0.00022 and can be bought using ETH, USDT, or bank card. BNB is also available as a payment option.
Also Read:
- Crypto Gains Dogecoin20 Presale Review – Last Chance to Buy Before $DOGE20 Claim and Launch
- TodayTrader’s on the Lookout for the Next 100x Meme Coin to Invest in – Could This Be Dogecoin20?
- Top 3 Crypto Presales to Watch for Potential 10x-15x Gains – Bitcoin Minetrix, Dogecoin20, and Green Bitcoin
- Austin Hilton Presale Review of Greener Version of Dogecoin with Staking Rewards – Dogecoin20
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