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The Dogecoin price dropped 2% in the last 24 hours and 16% in a month to trade at $0.1012 as of 00:45 a.m. EST on trading volume that soared 25% to $395 million.
This comes as the other two top meme coins by market capitalization continued to record negative gains in the last seven days, with SHIB falling 2% and PEPE 6%, according to Coingecko.
Dogecoin Price Aims For A Breakout
Despite being down in the last month, the Dogecoin price has still been up 8% in the last 14 days, as the price rose from below the lower boundary of the sideways pattern, according to data from GeckoTerminal.
However, the price of Dogecoin encountered resistance around $0.110, with the bears and bulls struggling for dominance at this level as DOGE went through consolidation.
DOGE still trades below both the 50-day and 200-day Simple Moving Averages (SMAs) as the price plunges from the upper boundary of the pattern.
The Relative Strength Index (RSI) also trades within the neutral zone at 45, indicating that the price of Dogecoin could break to any side.
The Moving Average Convergence Divergence (MACD) shows some bullish prospects as the MACD climbs towards the neutral line. Moreover, the blue MACD line crosses above the orange signal line, which represents a bullish crossover.
According to the DOGE analysis, the token is set for a bullish rally as the bulls aim for a breakout above the sideways pattern, targeting $0.12.
However, with the price of Dogecoin still trading below both the SMAs, the bears could exert pressure at this level, with $0.095 acting as the immediate support level.
Meanwhile, investors are rushing to buy a new DOGE alternative called PlayDoge (PLAY), with just a week left until its presale ends.
An analyst from 99Bitcoins, a popular YouTube channel with over 706K subscribers, predicts that PLAY could potentially surge 10X after its launch.
PlayDoge Meme Coin Blasts Past $6.1 Million – Best Meme Coin To Buy Now?
In what has been a highly successful ICO, PlayDoge has amassed over $6.1 million and recently announced that its presale will conclude on August 26 at 10 am UTC.
PlayDoge is not just another meme coin. It gives Tamagotchi a crypto makeover, with the $PLAY token serving as its in-game currency.
It’s a mobile-based play-to-earn (P2E) game that allows users to care for an 8-bit pixel Doge in the retro-style mobile game. Players get to feed, play mini-games, and bond with their virtual pet, earning $PLAY tokens in the process.
Introducing #PlayDoge – the only #P2E Doge companion! 🐶
Inspired by the legacy of #Tamagotchi, feed, train and play with your 2D Doge to earn $PLAY. 💰
Don't neglect your doge, his life's on the line 😲💀
Join the #Presale Now ⬇️https://t.co/JT0VEofqf2 pic.twitter.com/RoJYXLS1FH
— PlayDoge (@PlayDogeGame) June 3, 2024
PlayDoge operates on the BNB Chain, a blockchain created by the world’s largest crypto exchange, Binance, further increasing its appeal.
Apart from earning through P2E, token holders can earn passively by staking $PLAY for an impressive 75% annual yield (APY).
You can buy $PLAY tokens for $0.0053 each. With a price hike coming in about 4 hours, buy soon to lock in the best deal.
To join the presale, buy $PLAY from the official website here using BNB, USDT, or a bank card.
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