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The Dogecoin price plunged 5% in the last 24 hours to trade at $0.4394 as of 3.40 a.m. EST on trading volume that plummeted 28% to $7 billion.
The crypto industry’s first meme coin saw its price fluctuate quite a bit lately, but over the past five days DOGE has been following a bullish overall trend that took it from $0.40 to $0.48. But, with the start of the new week, the coin saw a price correction that took it down to $0.43, which is where it sits at the time of writing.
Right now, most major cryptos are trading in the red, which includes Dogecoin. However, this is likely not going to be the case for long, as there are signs that a recovery might be coming in the near future.
Dogecoin Price Prediction
The Dogecoin price saw a rather sharp fall after previously seeing a steady climb to the resistance at $0.48. This could mean that the coin’s growth was healthy, but the decline was too sudden, leaving it undervalued.
As a result, it is possible for Dogecoin to see a price recovery in its pursuit of stability. The project’s Bollinger bands have also seen a major widening over the last 10 hours or so, since the decline originally started. Wide bands are typically a good sign, although in this situation, the price was stuck to the lower band, pushing it down, which is a bearish sign.
On the other hand, there is the project’s Relative Strength Index (RSI) value, which spent several hours yesterday fluctuating around the value of 50, mostly going between 40 and 60. Then, about 10 hours prior to the time of writing, it spiraled down toward the oversold zone.
Since then, it returned to fluctuations between 35 and 45, until it finally dropped to 30 only four hours ago. The traders reacted immediately, buying the dip and increasing the RSI value back to 42, but with the bears still dominating the market, many used the opportunity to sell DOGE again.
The RSI dropped right back to 30, which is where it sits at the time of writing. This time, however, it appears that the traders are more hesitant to start buying, likely waiting on Bitcoin to make the first move and signal that a recovery is starting before purchasing DOGE.
This opens an opportunity for those looking to get DOGE at a lower price, as the coin is likely to see a sharp recovery — it just needs to wait for the right market conditions first.
Promising Alternative To Dogecoin
For those who don’t want to wait for DOGE to start recovering, there are always promising new meme coins to buy, especially if you manage to catch them while they are still in presale.
One of them is Flockerz (FLOCK), a new meme coin that has introduced a revolutionary new model called Vote-To-Earn. As the name of the model suggests, the project has created a way to incentivize users to engage in the voting process by rewarding them for participation.
This way, Flockerz will ensure high participation in project governance, while its users are rewarded for voting with a certain amount of FLOCK tokens, which they can then increase further by staking them for a huge 485% annual return.
🔥 The Flocks on Fire! 🔥
5 million ways to say The Flock's on top! What a massive milestone, it couldn't have happened without every member of the flock putting out the good word!
To the Top! With The Flock! 🚀🚀 pic.twitter.com/89co1o8qkT
— Flockerz (@FlockerzToken) December 7, 2024
The project has created a well-thought-out system designed to increase investors’ holdings, and all it asks in return is regular attendance and participation in the voting process. Many view this as an excellent deal, and also something that makes FLOCK a real gem among cryptos.
Crypto YouTuber ClayBro, who has 133k subscribers, said in a recent video that FLOCK could explode in an upcoming meme coin super cycle.
FLOCK tokens are on sale for just $0.0062995 each.
If you would like to join investors who have socked more than $5.39 million into the project, buy before a price hike in less than 35 hours.
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