Dogecoin Price Prediction As Whales Move In And The Parabolic DOGE 2.0 Presale Offers A Last Chance To Buy

The Dogecoin price jumped over 1% in the last 24 hours to trade at $0.1667 as of 7:45 a.m. EST as investors go long on the meme coin.

The slight gain in the DOGE price adds to the altcoin’s positive weekly streak, and follows an accumulation drive by Dogecoin whales. Large investors holding at least 1 million DOGE have purchased an eye-watering 822 million DOGE since the beginning of May, according to on-chain analysis by Santiment.

The total DOGE bought by whales since the start of the month equates to around  $130 million. Following the latest accumulation, the total holdings of these Dogecoin whales reached 57.9 billion DOGE as of May 1.

The Dogecoin Price Could Test Support Soon

4-hour chart for DOGE/USD (Source: GeckoTerminal)

The Dogecoin price is testing the lower boundary of a positive price channel that has formed on the meme coin’s 4-hour chart over the last 48 hours. Should the crypto fall below this boundary, DOGE might test the immediate support level at $0.1673.

Continued sell pressure should the Dogecoin price drop to this mark could then put DOGE at risk of falling to the next key level at $0.1630 in the following 24 hours. Conversely, the meme coin maintaining a position within the ascending channel for the next 8 hours might invalidate this bearish thesis.

In this alternative scenario, traders could try to push the Dogecoin price above the immediate technical barrier at $0.1720. With enough buy volume, DOGE might then soar to as high as $0.1763 in the short term. 

Traders will want to keep a close eye on the Dogecoin price if it attempts a challenge at the $0.1763 resistance. Not only is this threshold confluent with the upper boundary of the positive price channel, it is also around the same level as the upper limit of the Bollinger Bands (BBANDS) on the 4-hour chart.

DOGE attempted to break above this barrier in the past 8 hours. However, sellers were able to prevent the potential upside move from bulls, as evident by the wicks present above the last two candles on the 4-hour chart..

Technicals Warn Of A Dogecoin Price Correction

Technical indicators subsequently suggest the Dogecoin price might drop in the coming 24 hours. The Moving Average Convergence Divergence (MACD) indicator warns that DOGE’s positive trend has hit a peak and could be approaching its end.

This is evident by the narrowing gap between the MACD and MACD Signal line, with the former currently positioned above the latter. A cross between these two technical indicators through the course of the next 24 hours might indicate that the meme coin has entered a short-term bearish cycle.

Coupled with the fact that DOGE is approaching resistance and the upper limit of the BBANDS on the 4-hour chart, the MACD collapsing in on the MACD Signal line could be an early sign of an upcoming correction.

With the Dogecoin price at risk of potentially dropping in the coming 24 hours, investors are flocking to buy Dogeverse (DOGEVERSE) before its launch.

The First Chain-Travelling Meme Coin

Dogeverse is a light-hearted crypto backed by powerful multi-chain technology that makes it the first meme coin to reside on more than one network.

Not only can its token holders seamlessly transfer value across blockchains, the project also enables its investors to grow their holdings on some of the most liquid and active networks.

DOGEVERSE buyers can participate on DeFi protocols on Solana, Ethereum, BNB Chain, Polygon, Avalanche and even the layer 2 network, Base.

This unprecedented level of utility is one of the reasons why crypto YouTuber Jacob Bury named DOGEVERSE as one of the top 5 meme coins to buy now.

With its cross-chain capabilities, investors not only gain access to a potential 10x opportunity, they are also able to get their crypto working for them by allocating their holdings towards a variety of high-yield generating opportunities.

Investors Rush To Buy Dogeverse

DOGEVERSE’s presale has been one of the top-performing ICOs in the past few weeks, raising over $15 million. Beyond its branding’s link to the original Dogecoin, buyers are likely flocking to DOGEVERSE’s presale due to its attractive staking opportunity.

Get on the degen train before it rides into the wrong #Wormhole!#DOGE #Memecoins #Altcoins #Solana #Base #Ethereum

— DogeVerse (@The_DogeVerse) May 6, 2024

Anyone who purchases the meme coin at this early stage can lock up their tokens on the Ethereum blockchain for a 53% Annual Percentage Yield. To date, 30 billion tokens have been staked. 

Investors who want to get in on this opportunity can buy DOGEVERSE through the project’s website using either SOL, MATIC, AVAX, BNB, BASE, ETH, USDT or a bank card. 

Purchase and stake DOGEVERSE here for up to 53% in annual rewards.

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