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Dogecoin Price Prediction: DOGE Jumps 5%, But Analysts Say This P2E Tamagotchi-Themed DOGE Derivative Might Explode 10X

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Dogecoin price
Dogecoin price

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The Dogecoin price has surged 5% in the last 24 hours to trade at $0.1321 as of 2:10 a.m. EST on a 5% surge in trading volume to $1.89 billion.

Despite DOGE still being down 21% in the past month, technical indicators are pointing towards a potential buying opportunity for the world’s biggest meme coin by market capitalization.

Dogecoin Price Signals A Rebound On A Double Bottom Pattern

The Dogecoin price shows signs of a bullish trend reversal at the $0.1218 support level. The price has begun consolidating and forming a double-bottom pattern, which traders see as a bullish reversal signal. 

After dropping from the $0.2295 resistance level due to bearish pressure, the bulls are regaining control and encouraging more buys to kickstart a bullish rally.

Dogecoin Price

DOGEUSDT Analysis (Source: Tradingview)

Dogecoin is showing signs of a comeback, driven by optimistic investors who have kept its price above the 200-day Simple Moving Average (SMA). If the upward pressure continues, the price could surpass the 50-day SMA. Additionally, the Relative Strength Index (RSI) indicates a recovery from the oversold level of 30. With sustained momentum, the RSI could reach the midline level of 50.

Dogecoin Price Prediction

Dogecoin’s goal is to reclaim its previous high of $0.2291. Bulls are pushing for higher prices and finding support around the 200-day SMA. With momentum building in the $0.1218 support zone, the price could aim for $0.2291 in the coming days. Increased momentum could also push the price above the 50 SMA, which should confirm new highs.

However, if bears maintain the downward pressure, the price could fall below the $0.1220 support zone, potentially forcing bulls to retreat to the next support level at $0.1048.

This P2E Tamagotchi-Themed Crypto Presale Raises Over $5.3 Million

While bullish momentum is building for Dogecoin, sentiment around the new P2E DOGE-derivative PlayDoge (PLAY) turned maximum bullish almost as soon as it launched.

That’s confirmed by the numbers being produced by its blockbuster presale, which has already soared past $5.3 million in funds raised.

PLAY blends the iconic “Doge” meme with Play-to-Earn (P2E) gaming. It brings together ’90s nostalgia with cutting-edge blockchain technology, offering players a retro-style mobile game where they can care for an 8-bit pixel Doge. 

Players feed, play mini-games, and develop a bond with their virtual pet while earning PLAY tokens for how well they perform in such tasks.

Tokens holders can also generate passive income by staking PLAY tokens for an annual percentage yield (APY) of 114%.

According to crypto analyst and YouTuber Jacob Bury, $PLAY has the potential to generate 10X returns after launch.

PLAY tokens cost $0.00514 each. Act quickly if you are interested to buy the project because a price hike is coming in just over 24 hours.

Buy $PLAY here using BNB, USDT, or a bank card.

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