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The Dogecoin price has pumped 19% in the past week and 0.5% in the last 24 hours to trade at $0.3818 as of 3:30 a.m. EST on a 16% plunge in trading volume to $3 billion.
Dogecoin Price May Sustain Its Uptrend Despite A Short-Term Pull Back
The DOGE/USDT trading pair on the 1-day timeframe shows an intriguing mix of patterns and indicators that highlight both the price history and future potential. From May to July 2024, the price was trapped within a bearish channel, which signaled a prolonged downtrend.
However, a breakout in late July marked the beginning of a trend reversal. Following this, a bullish cup and handle pattern emerged between August and October. This pattern, characterized by a rounded bottom (the “cup”) and a slight retracement (the “handle”), culminated in a breakout in October, pushing prices upward.
DOGEUSDT Analysis Source: Tradingview
Currently, the price hovers near a critical support zone between $0.30 and $0.35. This zone has been tested multiple times since December 2024, solidifying it as a significant foundation for the next potential upward move. The 50-day moving average (MA50) aligns with the current price at $0.38137, acting as immediate support, while the 200-day moving average (MA200) at $0.19447 lies far below, reflecting the broader bullish trend in the long term.
The Relative Strength Index (RSI) is at 57.99, slightly above the neutral zone, indicating a slight bullish momentum. The RSI has rebounded from the midline (50), suggesting that buying pressure may be building.
The current DOGE/USDT structure suggests a potential bullish continuation. The support zone at $0.30–$0.35 is crucial for sustaining upward momentum, while a breakout above $0.40 could pave the way for a rise toward the $0.50–$0.55 resistance zone.
However, failure to hold the support zone could lead to a retest of $0.28 or even the MA200 level at $0.19.
Wall Street Pepe Presale Surges Toward $50 Million – Next Crypto To Explode?
As the Dogecoin price rebounds for another bullish rally, investors are also piling into a PEPE derivative meme coin called Wall Street Pepe ($WEPE), which has already raised over $42.2 million in its blockbuster presale, which is on track to be one of the biggest ever.
Crypto analyst and YouTuber ClayBro, with over 133K subscribers, predicts that early $WEPE investors could become millionaires once the coin launches.
$WEPE is already outshining previous presale stars, including the $74 million raised by Pepe Unchained (PEPU), which skyrocketed after its launch. At the same stage of their presales, $WEPE has raised far more than PEPU.
The project aims to end the dominance of whale investors and give smaller traders the ammunition to fight on a level playing field.
Right at the heart of the movement is the fast-growing WEPE Army, a passionate community committed to arming its members with the knowledge and resources to take on secretive whale investors.
$40M raised. Frogs strong together. The future is green. 🐸⚔️ pic.twitter.com/ijSnXJq9x9
— Wall Street Pepe (@WEPEToken) January 3, 2025
WEPE also offers a 33% annual yield on staked tokens.
To join the presale, buy some WEPE tokens with crypto or bank cards at the current price of $0.00036642 to become a part of the WEPE Army.
Interested investors should buy before a price hike in a little more than 15 hours.
Buy WEPE tokens on the official website here.
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