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The Dogecoin price surged by 20% in a week and about 6% in the past 24 hours to trade at $0.1311 as of 5:50 p.m. EST, according to CoinGecko.
The DOGE pump comes as a whale investor amassed 800 million DOGE tokens in two transactions worth almost $101 million, according to Whale Alert.
Dogecoin Price Prediction: How is DOGE Doing?
Looking at an in-depth analysis, we see that the price is currently trading above the Ichimoku Cloud, which generally indicates a bullish trend. The recent price action shows a slight pullback after a significant upward movement, suggesting a potential consolidation or a minor correction.
Looking at the Ichimoku Cloud, we see that the Conversion Line (Tenkan-sen) and Base Line (Kijun-sen) is above the Base Line, which is a bullish signal. The Leading Span A and Leading Span B is above Leading Span B, forming a green cloud, which confirms the bullish trend. The Lagging Span is above the price, adding to the bullish sentiment.
Looking at other indicators, we see that the ADX (Average Directional Index) is at 35.54, which indicates a strong trend. Generally, an ADX value above 25 is considered to signify a strong trend, and values above 35 indicate a very strong trend.
On the other hand, we see that the Awesome Oscillator (AO) is currently showing bearish momentum with red bars, indicating that the bullish momentum might be weakening.
However, it’s still above the zero line, suggesting that the overall trend remains bullish. Dogecoin (DOGE/USDT) is in a bullish trend, confirmed by the Ichimoku Cloud and ADX indicators. The current pullback could be a minor correction within the overall uptrend.
2-hour DOGE/USD Chart | Source: TradingView
A Promising Alternative?
Meanwhile, as the Dogecoin price soars, investors are pouring money into the PlayDoge (PLAY) presale, which has already raised more than $5.8 million.
PlayDoge is a play-to-earn cryptocurrency that combines the iconic Doge meme with the beloved Tamagotchi game from the 90. The game transforms the DOGE meme into a Tamagotchi-style virtual pet, which allows users to earn $PLAY tokens.
Players must be sure their digital pets are fed, rested, loved, and taken on trips, and they are rewarded in PLAY tokens based on how well they perform these tasks.
PLAY tokens also can be staked for an annual return of 84%.
”This could be absolutely huge,” says the 99Bitcoins YouTube channel, which has over 705k subscribers, adding that PLAY could be the next 10x crypto,
Each PLAY token costs $0.00521. Investors keen to add it to their portfolios should buy before a price hike in less than 2 days.
Buy PLAY here using ETH, USDT, BNB, or a bank card.
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