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The Dogecoin price has surged 8% in the last 24 hours to trade at $0.1253 as of 6:50 a.m. EST on a 109% pump in trading volume to $2.2 billion.
The DOGE price pump made DOGE the top gainer among major meme coins by market capitalization, according to CoinMarketCap.
Dogecoin Price May Explode Above The Cup And Handle Pattern
The Dogecoin (DOGE/USDT) daily chart on Binance shows a detailed technical analysis and price levels where DOGE is trapped in a bearish channel characterized by lower highs and lower lows.
The price reached a low of $0.079 before breaking out of this descending channel in mid-July, signaling a potential trend reversal.
Following the breakout, the price indicates stability around the $0.105 to $0.11 range, which has served as a critical support zone. This level aligns closely with the 200-day Simple Moving Average (SMA), currently at $0.10672, making it a strong support level that DOGE has bounced off multiple times.
DOGESDT Analysis Source: Tradingview
A cup and handle pattern is formed on the chart, indicating a bullish trend continuation pattern. The “cup” portion has been formed, with the price bottoming at nearly $0.079, and is gradually recovering.
The “handle” is now forming, and a breakout above the resistance level of around $0.13 (coinciding with the 50-day SMA) could confirm a bullish move, potentially pushing DOGE to a target price between $0.18 and $0.20. This target is derived from the depth of the “cup,” suggesting a significant upside after the breakout.
Dogecoin Price Prediction: More Uptrend Coming
The Relative Strength Index (RSI) is currently at 67.69, nearing the overbought zone of 70. While this indicates strong bullish momentum, it also suggests the possibility of a short-term pullback before further upward movement. If the RSI crosses into overbought territory, there could be a slight pause in the rally.
The Dogecoin price has a technical outlook that is positive, with the potential for a breakout toward the $0.18-$0.20 range. However, traders should watch the $0.105-$0.11 support zone and the RSI for signs of a short-term pullback.
A failure to hold support could lead to a retest of the lower price levels around $0.08, while a successful breakout could signal the start of a larger rally.
Pepe Unchained Presale Crashes Past $19.9 Million
Traders scouring the crypto landscape for future meme coins with the potential to muscle in on the top three biggest meme coins might want to take a look at a new Layer 2 meme coin called Pepe Unchained (PEPU).
It has just zoomed past $19.9 million in funds raised in one of the biggest presales of the year.
YouTuber ClayBro, with more than 130k subscribers, says PEPU is already being compared to PEPE, which is the third-largest meme coin with a market capitalization of almost $4.4 billion.
Pepe Unchained aims to bring PEPE into the modern era via its proprietary Layer 2 blockchain: Pepe Chain. The idea is that this upgrade will ”unchain” PEPE from his old, clunky Ethereum blockchain, which is hampered by slow speeds and high gas fees.
Pepe Chain, built on the Ethereum network, is designed to support fast transactions with minimal fees while handling much higher transaction volumes than traditional blockchains. According to the project’s whitepaper, its transaction speeds will be 100 times faster than Ethereum’s.
As if created in a lab, PEPU is absolute perfection.
As you can see, the complete package.
🐸💪💪💪💪🐸 pic.twitter.com/eZ9EjWpgBB
— Pepe Unchained (@pepe_unchained) October 15, 2024
Pepe Chain will also feature a dedicated block explorer for tracking transactions. The project has also introduced a developer grant program called “Frens with Benefits” to foster growth within its ecosystem. This initiative aims to attract new talent and encourages dApp development on the Pepe Chain.
PEPU holders can also stake their tokens for an annual return of 111%.
With speculation that $PEPU may be poised for a centralized exchange (CEX) listing by year’s end, investors can buy $PEPU tokens right now for $0.0103, using $USDT, $BNB, $ETH, and even bank cards.
Buy before a price hike in less than 2 days for the best deal.
Buy PEPU tokens on the official website here.
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