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The Dogecoin price surged 8% in the last 24 hours to trade at $0.213 as of 02:37 a.m. EST on trading volume that jumped 13% to $5.7 billion.
This comes as DOGE reached its highest level in 3 years at $0.22. The surge also coincides with Dogecoin’s rise of wallet addresses on its blockchain, which reached 6.27 million after the rollout of GigaWallet v1.0.
Dogecoin GigaWallet v1.0 has been released
Thank you to the early adopters already building great solutions on Dogecoin 🔥
"GigaWallet is a backend service which provides a convenient integration API for platforms such as online shops, exchanges, social media platforms etc, to…
— Dogecoin Foundation (@DogecoinFdn) March 26, 2024
Additionally, the anticipation of the April 1 launch of a DOGE futures product on Coinbase may see the price soaring to new highs.
Coinbase Derivatives will launch the first leveraged and CFTC-regulated futures contracts for Bitcoin Cash, Dogecoin, and Litecoin in April!
Stay tuned to find out when these contracts will be available to trade on our partner platforms. pic.twitter.com/MfUBrjuNsA
— Coinbase Institutional 🛡️ (@CoinbaseInsto) March 21, 2024
Dogecoin Price Bulls Gear Up For A Bull Rally
In March, Dogecoin experienced a significant uptrend, reaching the $0.20 resistance level, possibly influenced by Bitcoin’s surge to new all-time highs. This surge resulted in a 117% increase in Dogecoin’s price over the last 30 days.
However, bears seemed to have gained control, leading to a decline in DOGE’s price towards the $0.12 support level at some point. Despite this, bulls demonstrated resilience, driving the price back up and initiating a consolidation phase around the $0.19 range.
Subsequently, DOGE experienced fluctuations, shaping an inverse head-and-shoulders pattern. Capitalizing on this pattern, bulls drove the price above the neckline.
Moreover, bulls persist in exerting pressure on the price, as DOGE trades above both the 50-day and 200-day Simple Moving Averages (SMAs).
The Relative Strength Index (RSI) also hovers within the overbought level at 65. Should bullish momentum persist, the RSI might breach the 70-overbought region, indicating significant buying pressure.
Dogecoin Price Prediction
The bullish trend in Dogecoin’s price remains strong as the bulls use the inverse head-and-shoulders pattern to surge the price, recording a high last seen in 2021. Major DOGE price indicators show some level of optimism for the price to hit new highs in the coming weeks.
The 50-day SMA crosses above the 200-day SMA, forming a golden cross at $0.080, which supports the bullish potential of the price, with the bulls targeting $0.24.
Conversely, if the bears start booking profits at this level, the price may go down through a retrace. This might prompt the bulls to seek refuge around $0.17, coinciding with the 50-day SMA.
While Dogecoin traders continue to gain, Dogecoin 20 is proving to be a promising alternative, with analysts predicting a 1000X surge after launch.
Dogecoin20: Best Alternative To Dogecoin To Buy Now
Dogecoin20 (DOGE20) stands out as one of the hottest meme coins in the market right now, as it aims to be the improved version of Dogecoin, offering a fresh opportunity for those who missed on its surge.
The project operates as a more versatile and greener version of Dogecoin under its ethos, “Do Only Good Every Day.”
Positioned as the first token to carry the torch of Elon Musk’s favorite DOGE family, the token adds utility for its holders by bringing staking. The project also aims to surpass the success seen by its predecessors, like Shiba Inu and Dogecoin.
Buy Now Before Doge Day, Stake For 83% Annual Rewards
The project also has an on-chain staking option for holders, providing regular investors with passive income. You can stake $DOGE20 and earn an impressive annual percentage yield (APY) of 83%.
There is already 15% of the total 140 billion token supply that the team has set aside for staking rewards to be distributed over two years.
According to 99Bitcoin’s host, Jacob Bury, Dogecoin is among the seven best penny cryptos to buy now, with the potential to surge 1000X on launch.
With the development team extending the presale for one last chance to buy, interested investors should act fast, as the extension might end at any moment.
https://twitter.com/DOGE_COIN20/status/1772679064219685060
You can acquire DOGE20 tokens for $0.00022 each through the official website to participate in the action. You can make payments using ETH, USDT, or a bank card.
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