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The Dogecoin price surged more 10% in the last 24 hours to trade at $0.1465 as of 11:16 p.m. EST on trading volume that jumped 20% to $2.24 billion.
Dogecoin Price Indicators Show A Continued Bullish Rally
The Dogecoin price has been in a sustained bullish rally since October 8, as the bulls took control of the price at the $0.099 support level, as shown on the DOGE/USDT chart analysis on the 12-hour timeframe.
The parabolic surge after a slight downtrend formed a rounding bottom pattern, which the bulls are now capitalizing on to continue pushing the price even higher.
DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the sustained surge to the upside.
Furthermore, the Relative Strength Index (RSI) is at 79.76, which is overbought territory. An overbought reading signals that the price has risen rapidly and may experience a short-term pullback or consolidation before continuing its upward momentum. However, in strong bullish trends, RSI can remain overbought for extended periods.
The Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), which is a bullish signal. The histogram is positive, indicating growing momentum to the upside. Moreover, the MACD line is also above the zero line, further confirming bullish momentum. This suggests that the price may continue its upward trajectory.
DOGEUSDT Chart Analysis (Source: Tradingview)
Dogecoin Price Prediction
According to the Dogecoin price analysis, the current outlook is bullish, with price action breaking above key resistance levels (50-day SMA) and technical indicators confirming upward momentum.
A sustained bullish momentum could push the price even further, as the bulls target the next resistance level at $0.164.
However, the overbought RSI suggests the possibility of a short-term pullback or consolidation before a continued upward move. In this scenario, the next possible support level could be within the 200-day SMA around $0.11.
Meanwhile, as the Dogecoin price soars, investors are also rushing to buy a new PEPE alternative called Pepe Unchained (PEPU), which influential crypto YouTuber ClayBro, with over 130k subscribers, says could soar 20x on launch.
Pepe Unchained Presale Heads For $30 Million
Pepe was originally built on the Ethereum blockchain and has long been confined by its Layer-1 technology, which is characterized by network delays and rising gas fees.
Pepe Unchained — Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins. 🐸 pic.twitter.com/iC9b6YSynT
— Pepe Unchained (@pepe_unchained) September 6, 2024
Enter Pepe Unchained, which is designed to unchain PEPE from its clunky blockchain and help it embrace the future. The project is set to tackle the scalability, speed, and efficiency issues that often plague meme coins built on Layer-1 blockchains like Ethereum.
The project is actively enhancing its visibility and functionality by introducing various features within the Pepe Unchained ecosystem, including a decentralized exchange, bridging capabilities, and staking rewards.
Pepe Unchained L2 Sneak Peek!
What we're building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced Analytics
🐸Builder GrantsPepe Unchained is coming. And it's going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
Investors continue to pile into the project, with its presale now amassing more than $20.7 million. More than 1.4 billion tokens have been staked for an annual return that stands at 108% right now.
You can buy $PEPU tokens now for $0.0109 each. With a price hike coming in about 1 day, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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