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The Dogecoin price has plunged 5% in the last 24 hours to trade at $0.1971 as of 7:20 a.m. EST on a 23% drop in trading volume to $2.04 billion.
Dogecoin Price In A Bullish Momentum Above The Falling Wedge
DOGEUSDT Analysis By Tradingview
Dogecoin price has experienced a significant increase, surpassing the descending wedge pattern. This pattern is often observed during a strong upward trend and suggests periodic retracements, allowing buyers to gather themselves and regain momentum.
Dogecoin appears poised to hit a new high this month, largely due to the bullish investors, who have managed to keep the price above the upper trendline of the descending wedge pattern. What’s more, the price has surged past the 50-day and 200-day Simple Moving Averages (SMAs), now providing support at around $0.07042.
Furthermore, the Relative Strength Index (RSI) is indicating positive signs as it has rebounded from the midline level of 50 to approximately 60. It’s getting nearer to the overbought zone at 70, suggesting considerable buying interest in Dogecoin.
Dogecoin Price Targets $0.2636 High
The Dogecoin bulls are striving for a higher price and are finding support from the SMAs and the RSI. With momentum picking up, there’s a chance for the price to surpass the pennant, setting sights on reaching approximately $0.2636 in the upcoming weeks.
On the flip side, bears could continue the corrective phase, pushing the price back toward the support zone around $0.1565, which coincides with the upper boundary of the wedge.
Excitement Builds As Dogecoin20 (DOGE20) Launch Approaches
The Dogecoin world has more buzz recently thanks to the launch of a new presale called Dogecoin20 (DOGE20) that aims to give the original meme coin giant a big upgrade.
That presale amassed over $10 million in funding in less than two weeks and now the team is giving investors a last chance to buy before launch on April 20, which is International DOGE Day. Rumor has it that it is the favorite day for massive DOGE fan Elon Musk.
$10M Raised and Counting: Why Dogecoin20 is Going Viral Ahead of Doge Day?https://t.co/Op6F4Gbeol
— John Morgan (@johnmorganFL) April 1, 2024
Dogecoin20 aims to provide better features and capabilities. The project, which promotes the mantra of “Do Only Good Every Day,” strives to be a more environmentally friendly and versatile option compared to the meme coin titan.
The most notable difference between Dogecoin and Dogecoin20 is that the new meme coin is launched on the Ethereum network, which relies on the Proof of Stake consensus.
Last Call: Buy DOGE20 Now For A 50% APY
It also offers holders the opportunity to stake their tokens for an annual percentage yield (APY) of 50%.
Crypto YouTuber Jacob Bury ranks Dogecoin20 among the best five meme coins to buy today.
Those interested to buy DOGE20 before its launch can do so on the project’s website for $0.00022 per token. It’s best to act fast because the developer could close the presale at any time.
Visit the official website to buy DOGE20 here using your USDT, ETH, or bank card.
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