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The Dogecoin price surged 146% in the last week and pumped 3% in the last 24 hours to trade at $0.4053 as of 2:00 a.m. EST on trading volume that dropped 18% to $7.35 billion.
The world’s oldest meme coin skyrocketed around Nov. 10 in a surge that took its price from $0.20 to $0.40 over the course of the next two days.
Ever since, DOGE has been trying to breach the resistance at $0.40, and while it managed to briefly climb over this barrier several times in the past few weeks, its price would always get rejected. Even right now, the meme coin is trying to turn this level into a support that would allow it to continue its climb.
The coin’s price exploded around the same time when BTC crossed the $90K mark for the first time, but while BTC nearly reached $100K, stopping less than $350 away from this goal, DOGE has yet to even approach its own long-term goal of $1.
Dogecoin Price Prediction
The Dogecoin price saw a brief but sharp surge in the past 12 hours which took it from under $0.40 to $0.43 before it corrected just as sharply. However, the correction managed to leave it above the $0.40 level, which is where it still sits as of the time of writing.
However, there are signs that the coin’s price might correct soon and possibly drop back under the $0.40 mark. Its Bollinger Bands, for example, have started narrowing, and the token’s price is now closer to the lower band than the middle point between the two lines.
Both of these are bearish signals, which suggest that DOGE might go back under the $0.40 mark in the near future. At the very least, it might drop to the $0.40 level exactly and stick to it for the time being.
Then, there’s the DOGE’s Relative Strength Index (RSI) — a metric that suggests that the traders overbought the coin when they pumped its price to $0.43. Since then, many have taken profit, which caused the price to drop to its current level, while the RSI itself dropped to the neutral zone of 50. The value has since fluctuated between 45 and 55, and is now under 50.
While the RSI performance doesn’t suggest that the traders are dumping the coin, it does seem to indicate that more and more traders are opting to sell DOGE while it is still above $0.40, which is likely why its price is gradually declining.
Promising Alternative To Dogecoin
Right now, DOGE seems like a good long-term investment, but not a very promising coin to buy for short-term gains. Instead, Catslap (SLAP) might be a better option for investors looking for a promising new opportunity.
CatSlap is a young new meme coin that recently emerged as “crypto’s most aggressive feline.” It intends to use this aggression to slap its way to the top of the meme coin market, and according to its recent announcement, it will soon let you slap to earn crypto rewards that are paid out in SLAP.
There will also be a Slapometer — a type of leaderboard that will see different countries compete to see who has the most dedicated slappers.
The token has already launched, and right now, you can buy SLAP on Uniswap, within Best Wallet, or on the project’s own website, which features a buying widget that lets you buy SLAP with ETH, USDT, or credit/debit cards.
Many have already opted to buy SLAP at this early stage, which caused several crypto experts, such as YouTuber Jacob Crypto Bury, who has over 45.4K subscribers, to call it the next 100X meme coin.
Visit SLAP’s official website.
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