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The DOG•GO•TO•THE•MOON price dropped 4% in the last 24 hours to trade at $0.002106 as of 03:27 a.m. EST on trading volume that plunged 8% to $8.38 million.
Despite the drop, DOG•GO•TO•THE•MOON has become the 12th largest meme coin with a market capitalization of $271 million.
DOG•GO•TO•THE•MOON Price Poised To Rebound Over The Falling Wedge
Geckoterminal indicates that the DOG•GO•TO•THE•MOON price skyrocketed to an all-time high (ATH) of $0.00530 on April 25, post-launch. DOG has since been on a downward trend, falling within the confines of the falling wedge pattern.
However, the support around $0.001660 has allowed the bulls to stage a breakout above the lower boundary of the falling wedge to touch the upper boundary of the wedge.
DOG still trades below the 50-day Simple Moving Average (SMA), coinciding with the current price downtrend.
Additionally, the Relative Strength Index (RSI) trades below the 50-midline level at 44, showing that the bulls are currently not buying. However, the RSI remains in the 40–62 range, with the 40–50 zone acting as support, indicating that DOG is still in a bull market.
The Moving Average Convergence Divergence (MACD) also indicates a looming bullish rally, as it forms a bullish crossover. A bullish crossover occurs when the MACD line (blue) crosses above the signal line (orange), as seen in the chart.
Additionally, the green bars on the histogram extend above the neutral line, an indication that DOG is on a positive trajectory. The Average Directional Index (ADX) is trading above the 25 level, currently at 48, showing that DOG is still on a very strong bullish trend.
DOG•GO•TO•THE•MOON Price Prediction
The DOG•GO•TO•THE•MOON price analysis on the 4-hour chart indicates that DOG is gearing up for a breakout above the falling wedge pattern, as the bulls target $0.0040.
However, a sustained bearish stance at this level may still push Dog further down to the support zone around $0.001719, which acts as a cushion against downward pressure.
As the bulls aim for a breakout, other investors are exploring Sponge V2, a token that aims to repeat the feat of its predecessor, Sponge V1, which recorded 100X returns last year in a bear market. At its peak, Sponge V1 even reached a market cap of $100 million.
This is among reasons why crypto analysts like Crypto Boy say that Sponge V2 could potentially soar 100X again after its imminent launch.
Last Chance To Buy Sponge V2 Before Exchange Listing
If you missed the Sponge surge, you have a new opportunity with Sponge V2.
The team phased out Sponge in early February, with over 13,000 holders moving to the more secure and cost-efficient V2 on the Polygon Network. Sponge V2 comes as an upgraded version of its predecessor, promising more significant rewards and a better ecosystem.
You still have a chance with #SpongeV2… don't miss out again 💦$SPONGE #MemeCoin #Bullish pic.twitter.com/HuKpH3JTFI
— $SPONGE (@spongeoneth) March 19, 2024
Sponge V2’s roadmap is filled with promising developments, which include upcoming top-tier exchange listings.
Traders also have an opportunity to earn passive income through their tokens. They can buy and stake $SPONGE V2 tokens, earning an impressive annual percentage yield (APY) of 163% on Ethereum and 338% on the Polygon Network.
Exciting staking update! 🔥
Over 9.8 billion $SPONGE tokens are staked, valued at over $18.5 million! 💰
Now is the perfect time to stake your $SPONGE and earn passive rewards.
Don't miss out ! 🧽💸https://t.co/fz33NRaf3G
#Sponge #CryptoStaking pic.twitter.com/4s27AjWh12
— $SPONGE (@spongeoneth) April 23, 2024
The platform is also poised to launch a play-to-earn racer game, available in both paid and free versions, where users get to engage in racing competitions and earn token rewards.
To join the presale, you can buy the Sponge V2 tokens on the official website here. Link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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