Dogecoin Price Prediction as DOGE Investor Volume Halves. Does Presale Token Launchpad Offer Greater Returns?

Join Our Telegram channel to stay up to date on breaking news coverage

Despite bullish fundamentals, Dogecoin (DOGE) price experienced a significant 50% drop in trading volume on July 27, resulting in a loss of around $725M in value, causing investor concerns. However, the technical outlook for DOGE remains positive.

Dogecoin Recent Price Surge: What Drove The Rally

The recent surge in Dogecoin price is linked to the excitement surrounding the X payment solution, with Elon Musk’s endorsement and plans to make X the global payment solution, as evidenced by his rebranding of Twitter to X and prominently displaying the $DOGE logo on his X profile location, leading to increased speculation among Dogecoin enthusiasts.

Big news!
Elon Musk has put the $DOGE logo on his X profile location.#X is a payment system, and Ð stands for #Dogecoin

When #Bitcoin ( $BTC ) was dropping in value, Dogecoin experienced a sudden increase of 10% in its price.#Crypto #TwitterX #Altcoins #BTCUSDT #RIPTwitter… pic.twitter.com/hW0YCghORz

— Crypto Patel (@CryptoPatel) July 24, 2023

X serves as a payment system, with the Ð symbolizing Dogecoin, leading to speculation that Musk might integrate Dogecoin as a payment solution in X, similar to its inclusion in Tesla car sales.

This potential integration has fueled positive sentiment around Dogecoin, driving its prices up and drawing attention from investors and traders.

#Dogecoin is PUMPING based on X payments speculation.

Should Elon incorporate $DOGE into X?#bitcoin #crypto #ai pic.twitter.com/aCKa4OMnAX

— Altcoin Daily (@AltcoinDailyio) July 25, 2023

The question of whether Elon Musk should integrate $DOGE into X remains a subject of debate and uncertainty.

Short Liquidations Trigger Upward Momentum For Dogecoin Price

Dogecoin trading data reveals a notable liquidation of short positions on Binance and Bybit exchanges.

Ten short positions on Binance and two on Bybit were liquidated, totaling $62,935 and $20,130, respectively.

Over the past four hours, short positions liquidated surpassed long positions by $208,422.

New #DOGE Short Liquidations (LIQs):
10 short(s) LIQ totaling $62,935 on Binance
2 short(s) LIQ totaling $20,130 on Bybit

$208,422 more SHORT LIQ volume than LONG in previous 4H.

SHORT LIQ volume is likely increasing DOGE price!

— WhaleGooBrr (@WhaleGooBrr) July 27, 2023

The recent surge in Dogecoin price may be linked to increased short liquidations, potentially resulting from a short squeeze situation. As short sellers hurry to cover their positions, demand for DOGE increases, fueling a bullish trend in the market.

Dogecoin Price Analysis

DOGE/USD trading pair’s daily price chart shows signs of recovery after recent losses.

Three days ago, DOGE recorded consecutive rises, causing a notable 19% surge in value.

However, the positive momentum was dampened by a significant drop in trading volume, resulting in the coin losing about half of its gains.

Dogecoin price — TradingView: DOGE/USD 1-Day Chart

Despite experiencing losses yesterday, DOGE bulls have shown resilience in their efforts to recover.

Technical indicators are signaling a potential continuation of the upward trend.

Notably, the crossing above the 50-day Exponential Moving Average (EMA) line indicates an improved overall market condition with increased buying pressure.

Additionally, the northward movement of the Relative Strength Index (RSI) supports the bullish outlook, indicating rising momentum.

Currently, the meme coin is encountering a significant resistance level at the 50% Fibonacci Retracement of $0.0795.

A decisive break above this level could trigger further bullish momentum, potentially propelling DOGE towards the $0.1 level last seen on 3rd April. Conversely, on the downside, the 38% Fibonacci Retracement level provides support at $0.0732.

Apart from Dogecoin, another coin has similar growth potential.

DOGE Alternative

Launchpad XYZ (LPX) is a comprehensive Web 3 dashboard empowering traders of all levels with essential tools. These infrastructures help them make informed decisions in the dynamic cryptocurrency market.

Launchpad XYZ offers crucial data on various utility tokens, including liquidity metrics, analyst insights, personalized indicators, and potential arbitrage opportunities. In doing so, the ecosystem aims to streamline the trading process and enhance user experience.

Embracing Web 3 Advantages

With a user-friendly interface reminiscent of Web 2 applications, Launchpad XYZ eliminates the need to juggle multiple platforms.

However, it fully embraces the advantages of Web3, presenting users with a revenue-sharing model, self-custody features, and real-world asset fractionalization. This hybrid approach equips traders with all the necessary resources to navigate the cryptocurrency realm confidently.

Exclusive Alerts for Crypto Presales

One of the unique features of Launchpad XYZ is its exclusive alerts for crypto presales, providing limited private investors with early access opportunities. Users must stake a minimum of 10,000 LPX tokens for a 90-day period to participate in these presales. This also gives the user access to a share of the token allocation.

Missed another #Presale? 🕐

With #LaunchpadXYZ's real-time alerts, you'll always be the first to know about new opportunities in the #Web3 space

Join our community today 🚀
👉 https://t.co/CrJA4Rk91H $BTC $SOL $LINK $#Trading #Alts #Web3 pic.twitter.com/wMCIZkCa16

— Launchpad.xyz (@launchpadlpx) July 25, 2023

Benefits of LPX Staking

Staking a minimum average of 10,000 LPX tokens monthly brings users various benefits. These advantages include fee discounts, early access to play-to-earn (P2E) games, and prestigious community badges. LPX stakers also enjoy exclusive access to upcoming NFT mints. They are identified as potential successors to highly successful projects like the Bored Ape Yacht Club (BAYC).

Interested in the #NFT space? Look no further!

Our #LaunchpadXYZ NFT Exchange is your gateway to exploring, trading and owning unique digital assets

Don’t miss the $LPX #Presale! 💡🔑
👉 https://t.co/CrJA4Rk91H #NFTMagic #Bullish #Blockchain pic.twitter.com/ldLbMzC0C6

— Launchpad.xyz (@launchpadlpx) July 17, 2023

Presale Phase and Token Distribution

Currently, LPX token is in the presale phase, with the platform offering investors the chance to acquire LPX tokens using ETH, BNB, USDT, or cards. The presale has allocated 250 million tokens out of the total supply of 1.025 billion for this phase.

🔥💰 $1 Million Raised 🔥💰

A massive thanks to everyone that’s supported us in the #Presale so far!

Some of you are already making money from our signals Telegram – You’re all smashing it ‼️

Come and join the $LPX presale today⤵️
👉https://t.co/CrJA4RkGRf #Web3 #Crypto pic.twitter.com/RdeNFpzJMt

— Launchpad.xyz (@launchpadlpx) June 20, 2023

During the presale, LPX is available at a price of $0.0445 per token.

After the presale, the price will increase to $0.046 before the official listing at $0.0565. Out of the target of $1,550,000, the project has already accumulated about $1,194,280.

Visit Launchpad XYZ here