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The Dogecoin price plunged 7% in the last 24 hours to trade at $0.3670 as of 01:31 a.m. EST on trading volume that plummeted 30% to $15.6 billion.
Dogecoin Price On A Sustained Bullish Trend
The Dogecoin price has been in a significant uptrend recently, with a sharp rise in mid-to-late October and into November. The trend is clear from the steep ascent in price of Dogecoin above both the 50-day (yellow line) and 200-day (red line) Simple Moving Averages (SMAs) on the 4-hour chart, according to data from GeckoTerminal. This signals strong bullish momentum in the short to medium term.
Moreover, the Relative Strength Index (RSI) is currently around the mid-range, close to 54, which suggests that there is no immediate overbought or oversold condition. This level of RSI indicates a cooling off period after what was likely an overbought condition during the rapid price increase.
The RSI cooling off while the price remains high could indicate consolidation before the next move.
If the Dogecoin price sustains the bullish trend, DOGE could soar even higher, as the bulls target the next resistance at $0.70.
However, immediate support might be around the 50 SMA at $0.2930. If the price dips towards this level, it may offer a point for potential buying interest, but a break below could indicate a stronger pullback.
Meanwhile, investors are going all-in on a new alternative, Pepe Unchained (PEPU), which aims to emulate and surpass the success of its predecessor, PEPE.
According to 99Bitcoins, a leading crypto YouTube channel with more than 706K followers, Pepe Unchained (PEPU) could be the next meme coin to deliver 100X returns.
Pepe Unchained (PEPU) Presale Hits New Heights, Surpasses $30.7 Million
Pepe Unchained stands apart from other PEPE derivatives as a layer-2 (L2) project, offering superior transaction speeds and significantly lower fees than the original Pepe (PEPE), which operates on Ethereum’s slower and more expensive layer-1 network.
November kicked off with impressive momentum for the project, raising a total of $30.7 million in presale funds, including $1.9 million in the last two days alone, as it races towards the $31 million target.
The team recently introduced a countdown timer for the project’s presale, indicating that the Pepe Unchained presale will end in under 28 days, followed by listings on tier-1 exchanges.
As its name suggests, Pepe Unchained is designed to free, or ”unchain,” the OG PEPE from its clunky, inefficient home on Ethereum.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
Pepe Unchained provides a seamless and efficient user experience, making it a strong contender in the meme coin space.
Pepe Unchained is also actively fostering innovation with the recent launch of a developer grant. The project’s website now features a portal where developers can apply for grants to build on its L2 chain. The goal is to create new dApps and leverage the project’s technology for faster and more cost-efficient transactions.
WE JUST HIT $20M RAISED!
And with this milestone, we have another major project update to share with our incredible community! pic.twitter.com/z9xlqZ2dAV
— Pepe Unchained (@pepe_unchained) October 16, 2024
Pepe Unchained also introduces a staking platform, offering token holders the opportunity to earn an impressive 84% annually.
The current price of PEPU is $0.01283. Investors eager to join one of the most successful presales of the year should do so before the ICO comes to an end.
Buy PEPU tokens on the official website here with ETH, USDT, or a credit card.
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