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The Dogecoin price dropped over 4% in the past 24 hours to trade at $0.1503 as of 12:30 a.m. EST as investors trim holdings in the leading meme coin.
The DOGE price fall was enough to push its weekly and monthly performances into the red zone, with a 1% tumble in seven days and 4% over the past 30.
The Dogecoin Price Resting On Crucial Support
4-hour chart for DOGE/USDT (Source: TradingView)
The Dogecoin price is resting on the key support at $0.14972. This comes after it was rejected by the major resistance level at $0.159 in the past 24 hours.
Should DOGE close a 4-hour candle below $0.14972 within the next 12 hours, the meme coin could be at risk of falling to the subsequent mark at $0.14463. Continued sell pressure might then lead to the Dogecoin price dropping to as low as $0.13881 in the short term.
DOGE rebounding off of the $0.14972 support might invalidate this bearish thesis. In this alternative scenario, the crypto could look to climb to the aforementioned $0.159 barrier.
Bulls might then attempt to flip this level into support. If buyers manage to push DOGE above this threshold, the crypto could have the foundation to rise to as high as $0.16555 in the following 24 hours.
Bulls And Bears Battle It Out To Take Control Of The Dogecoin Price
Technical indicators on DOGE’s 4-hour chart are sending mixed signals. This suggests that neither bulls nor bears have taken over the meme coin’s charts as DOGE rests on the key support.
During the past day of trading, the Moving Average Convergence Divergence (MACD) line dropped below the MACD Signal line. Traders usually identify this as a sign that a crypto has entered a bearish phase.
However, the Relative Strength Index (RSI) indicator on the 4-hour chart contradicts the bearishness signaled by the MACD. Although the RSI is positioned below its Simple Moving Average (SMA) to indicate that sellers have the upper hand, the gap between the two lines is starting to narrow.
This suggests that bears are losing some of their strength. If buyers keep pressuring sellers, the RSI might soon cross above the SMA to signal that bulls have regained the advantage.
As bulls and bears attempt to gain control over the Dogecoin price, investors continue to flock to the multi-chain Dogecoin derivative ICO Dogeverse, which has raised more than $15 million and is now offering a last chance to buy before listing.
Unmatched Cross-Chain Capabilities
Dogeverse (DOGEVERSE) is the latest canine-themed altcoin to enter the burgeoning meme coin space, but don’t let the lighthearted nature of the token’s mascot fool you.
At the core of the crypto’s ecosystem is its powerful cross-chain capabilities, with DOGEVERSE being the first meme coin to reside on multiple networks.
Why limit to one when you can have it all? $DOGEVERSE begins on the secure #Ethereum network, ensuring robust security and reliability. 🛡️💻
🔥 Bridging gaps between #Cryptocurrency ecosystems, we enhance liquidity, utility, and fun across the entire #Cryptoverse! 🎉#AltSeason pic.twitter.com/zOg8albhry
— DogeVerse (@The_DogeVerse) May 3, 2024
Deployed on popular chains including Ethereum, Solana, Polygon, BNB Chain, Avalanche and Base, Dogeverse is on a mission to ignite a multi-chain meme coin takeover.
Investors stand to benefit the most, because they will be able to seamlessly shift value across chains with the highest levels of liquidity and network activity. This will give them the ability to quickly act on attractive yield-generating opportunities as they appear, enabling them to achieve maximum profits.
Token holders won’t even have to look far to start growing their rewards. Dogeverse is offering investors at this early stage a native staking program with an eye-watering 55% APY.
Dogeverse Has 10X Potential
Dogeverse’s presale has been one of the most popular ICOs this year and Crypto YouTuber ClayBro says the token might 10x on launch.
Selling for $0.00031, DOGEVERSE can be bought using a number of altcoins given the meme coin’s multi-chain presence. The list of available payment options includes ETH, MATIC, BNB, BASE, AVAX and SOL. Investors can also use USDT and bank cards.
It’s important to note, however, that only purchases made with ETH will be eligible for the staking opportunity. This is because the smart contract was deployed on the Ethereum network.
Purchase DOGEVERSE here before it launches.
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