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The Dogecoin price surged 5% in the last 24 hours to trade at $0.2018 as of 03:23 a.m. EST on trading volume that jumped 51% to $5 billion.
This comes as Coinbase Derivatives is gearing up to launch cash-settled futures contract products for Dogecoin, Litecoin, and Bitcoin Cash on April 1.
The move by Coinbase is based on the belief that Dogecoin’s longevity in the crypto realm transcends its meme origins, as it has become an essential asset in the industry.
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 Soars Within The Rising Channel
The Dogecoin price has been on a tear this week with a 31% surge in prices, which saw DOGE rise through the confines of the rising channel pattern.
March saw DOGE touch a yearly high of $0.21 before retracing to the support zone at $0.127. The movements within this range formed a head-and-shoulders pattern, with the right shoulder providing a breakout point of around $0.14.
DOGE is well above both the 50-day and 200-day Simple Moving Averages (SMAs), which confirms the bullish sentiments of the price.
Additionally, the Relative Strength Index (RSI) in the 1-hour timeframe is trading around the overbought levels at 64 as it heads up. If the bulls remain resilient, the RSI could soar to overbought levels, which indicates intense buying pressure.
Dogecoin Price Prediction
Based on Dogecoin’s price analysis, DOGE could soar over the upper boundary of the rising channel to as high as $0.24. The bulls aim to use the movement of the RSI as well as the golden cross formed at $0.15 to drive the price even higher.
If the bulls seize control of the price at this level, DOGE may experience a downtrend. Potentially, it will retrace to the support level at $0.166, which aligns with the 200-day SMA. If the price goes beyond this level to $0.14, DOGE would negate the bullish outlook.
Meanwhile, as the DOGE price soars, you may want to buy its alternative, Dogecoin20, before it launches on International Doge Day on April 20. It’s presale is sold out after blasting past $10 million raised in next to no time, but the team is now extending one last chance to buy.
Dogecoin20: Best Alternative To Dogecoin To Buy Now
Dogecoin20 (DOGE20) carries the torch of Elon Musk’s favorite DOGE family of meme coins to the next level, adding utility for its holders by integrating staking on Ethereum.
https://twitter.com/DOGE_COIN20/status/1772669930543988763
The project is also a more versatile and greener version of Dogecoin, operating under the spirit of “Do Only Good Every Day.”
🌿🐕 #DOGE20 stands out as a more eco-friendly and adaptable version compared to the original #DOGE, thanks to its operation on Ethereum's Proof-of-Stake network. 🔋
Being an ERC-20 token, it effortlessly fits into any well-known self-custody wallet for convenient storage. 📥 pic.twitter.com/qkYXjlcnjY
— Dogecoin20 (@DOGE_COIN20) March 20, 2024
Positioned as the first upgrade within the DOGE family, Dogecoin20 looks capable of surpassing even the success seen by other dog-themed tokens like Shiba Inu and DOGE itself.
Buy Now Before Launch, Stake For 91% Annual Rewards
You can earn a passive income through the platform’s on-chain staking mechanism. You can stake your $DOGE20 tokens for an impressive annual percentage yield (APY) of 91%.
The development team has already set aside 15% of its total DOGE20 supply as staking rewards. The rewards will be distributed over 2 years.
https://twitter.com/DOGE_COIN20/status/1772679064219685060
According to 99Bitcoins, a popular YouTube channel, Dogecoin20 is among the top five crypto picks right now, with the potential to surge 100X on launch.
With the development team extending the presale for one last chance to buy, interested investors should act fast because the extension might end at any moment.
To participate in the action, you can acquire DOGE20 tokens for $0.00022 each through the official website. You can make payments using ETH, USDT, or a bank card.
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