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The Dogecoin price dropped 17% in the last 24 hours to trade at $0.2483 as of 2.30 a.m. EST on trading volume that skyrocketed 348% to $10.18 billion.
The DOGE price traded sideways for most of the last week, seeing minor fluctuations between a support at $0.30 and a resistance at $0.35. However, yesterday, Feb. 2, the coin started seeing a major price descent, breaking the support at $0.30 and dropping to $0.22.
The coin promptly bounced back up in the early hours of Monday, Feb. 3, which allowed it to return to its current price. The price drop is believed to be a consequence of Trump’s tariff war, which triggered major fears of inflation, resulting in $2 billion in crypto liquidations.
Dogecoin Price Prediction
Despite the fact that the Dogecoin price is already recovering, it dipped over 20% in the last day. However, the sharp price drop opened an opportunity for many traders who rushed in to buy the coin at a discount.
The project’s Bollinger Bands saw a major widening during the price dip, with the price itself mostly fluctuating between the lower band and the middle line between the two bands. However, as the Dogecoin price started to recover, it returned to the upper band, and it is pushing it up right now, which is likely going to lead to the margin between the bands widening.
The coin’s Relative Strength Index (RSI), on the other hand, has been following a pattern over the last two days, fluctuating between the oversold zone, often reaching the value of 20, and the neutral area, typically going to 50, and sometimes slightly beyond.
This suggests that traders have been rather active over the weekend, albeit with a bearish predisposition. They did not allow the RSI to grow to the overbought zone, suggesting that they expected the price to drop, and were instead making short-term purchases and sales, using the RSI as their primary trading signal.
However, this changed in the early hours of Monday, as the RSI now ventures toward the overbought zone, currently at the value of 61.47 at the time of writing. This suggests that the new week is bringing a new wave of optimism, and the traders are finally pumping DOGE back up, with its price on its way to previous levels. Whether or not it will manage to reach previous highs still remains to be seen, as another sell-off might start once the RSI hits the value of 70.
Promising Alternative To Dogecoin
While Dogecoin’s price is recovering, it might be too late to buy DOGE now if you are looking to make gains. Instead, consider new and upcoming cryptocurrencies like Wall Street Pepe (WEPE), which have not yet seen a price surge.
WEPE is a new Pepe-inspired cryptocurrency that is rapidly approaching its presale’s conclusion. The project emerged to empower retail investors and traders by giving them a private insider group where they can get access to the best technical indicators and trade signals, investment suggestions, expert advice, big brain calls, the most successful strategies, and more.
WEPE emerged after observing the crypto whales who hide inside their own insider groups, using them to get rich, while not sharing any information with the retail community. The project found it unfair, and its own insider group is a response to this injustice. Investors seem to love the idea behind the project, as evidenced by WEPE’s ICO that is rapidly approaching the $68 million milestone.
While its ICO is scheduled to end in 13 days, the presale could be sold out within a few days, since its hard cap is at $72m, and it is raising approximately $1m a day. In other words, this could be your very last chance to join the presale before it is over and buy WEPE for only $0.0003665.
YouTuber ClayBro, who has over 135k subscribers, believes that WEPE will blow up after launch and that it has 15x potential. So act quickly to position yourself ahead of this anticipated price surge.
Buy WEPE tokens here before the project’s presale ends.
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