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The Dogecoin price dropped 4% in the last 24 hours to trade at $0.1443 as of 11:42 p.m. EST on trading volume that plunged 5% to $1.02 billion.
This comes as DOGE’s daily averages appear on track to confirm a bullish golden cross. The 50-day Simple Moving Average (SMA) on the 4-hour chart is now trending north and looks set to cross above the 200-day SMA in the upcoming weeks, confirming a golden cross.
That means near-term price momentum could soon outperform long-term momentum, which could evolve into a prolonged bullish trend.
Dogecoin Price Set To Rally Above The Falling Wedge Pattern
Geckoterminal’s analysis reveals that Dogecoin has been on a downward trajectory over the last week, following a surge that took it to a resistance level of around $0.168.The Dogecoin price has since been on a downtrend, trading within a falling wedge pattern as it found support around the $0.142 level.
The DOGE bulls are aiming to drive the price above the upper boundary of the wedge, which is set to drive the price to higher levels.
DOGE also trades below both the 50-day and 200-day SMAs, which coincides with the current price downtrend within the falling wedge.
Moreover, the readings on the Relative Strength Index (RSI) show that buyers are starting to buy as the indicator moves towards the 50-midline level, currently trading at 41.
Dogecoin Price Prediction
The Dogecoin price analysis on the 4-hour chart indicates that DOGE is set for a bullish trend reversal over the falling wedge pattern, as the bulls target $0.1704.
With the 50-day and 200-day SMA set to merge, the formation of a golden cross will encourage the bullish trend, which could push the price even higher.
However, if the bears sustain the downtrend, DOGE could retrace further to the support around $0.1326, acting as a cushion against downward pressure.
As the DOGE bulls gear up towards a bullish trend, some traders are diversifying their portfolios with Dogeverse, a Dogecoin derivative ICO that aims to follow the same trail to the top of the meme coin rankings as dog-themed peers like Dogecoin and Shiba Inu.
That is a key reason why crypto analysts like Jacob bury believe that Dogeverse has the potential to soar 100X after launch.
Dogeverse Presale Blasts Past $15 Million – Last Chance To Buy Before Launch
Dogeverse (DOGEVERSE), the world’s first chain-traveling Doge, has already made a significant impact in the meme coin sector by raising over $15 million in its presale. The project is now offering a last chance to buy before it launches.
It's now or never! 🚀
Buy some $DOGEVERSE before the #DEX launch kicks off!#Memecoins #Altcoins #Solana#Ethereum #DOGE
— DogeVerse (@The_DogeVerse) May 5, 2024
Such impressive fundraising not only demonstrates resilience in current market conditions but also positions the coin to influence the trend toward multi-chain integration in the meme coin realm.
The project supports multiple major blockchains, including Ethereum, BNB Smart Chain, Polygon, Solana, Base, and Avalanche, which enhances its reach and liquidity.
🌐 Embracing Inclusive Accessibility! 🚀
$DOGEVERSE opens its doors to a wide audience, from #Ethereum aficionados to those preferring the rapid, cost-effective benefits of #Solana or #Polygon, fostering a diverse and inclusive community. 🐕🌟 pic.twitter.com/sXPOvaoz67
— DogeVerse (@The_DogeVerse) April 12, 2024
The project’s mascot, Cosmo the Doge, has the ability to hyperjump between crypto networks, which gives Dogeverse the ability to move across chains and widens its accessibility within the crypto realm.
Users can earn passively through the platform’s staking system, with an impressive 67% annual percentage yield (APY) on offer.
You can participate in the presale by buying $DOGEVERSE for $0.00031 per token. Buy soon, though, before the team launches the token on major exchanges.
Buy $DOGEVERSE on the official website here using ETH, USDT, or a bank card.
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