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The DOGS price soared over 9% and recorded the biggest 24-hour gain among major meme coins to trade at $0.00108 as of 7:30 a.m. EST as investors rush to buy the crypto.
This rise in the DOGS price follows the launch of the project’s highly-anticipated token airdrop. More than 40 billion tokens have already been distributed to over 2.5 million people, according to the meme coin’s official Telegram channel.
Despite this strong performance, the DOGS price is still more than 24% in the red zone on the weekly time frame.
The DOGS Price Keeps A Key Support Level
4-hour chart for DOGS/USDT (Source: TradingView)
The DOGS price rebounded from the key support level at $0.000955 in the last 24 hours, and is now attempting to overcome the major resistance at $0.001186. Should the meme coin flip this barrier into support within the next 24 hours, DOGS might have the technical foundation needed to rise to the subsequent mark at $0.001398 in the short term.
This bullish scenario could be invalidated if the DOGS price is rejected by the $0.001186 resistance level through the course of the next 24 hours. In this alternative case, the crypto might lose the $0.000955 support. Dropping below this critical level could then expose the DOGS price to the risk of entering a price discovery phase towards the downside.
Technicals Suggest The DOGS Price Is On Track To Break Above $0.001186 Soon
Technical indicators on the meme coin’s 4-hour chart suggest the DOGS price might keep climbing in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing positive signs.
Over the past 24 hours, the RSI line on the 4-hour chart has soared above the Simple Moving Average (MSA) line. Although the current RSI reading is bearishly below the 50 benchmark, the positive slope of the indicator suggests the RSI might soon break above 50. Should this happen, it could signal that buyers have gained the upper hand against sellers.
The MACD line has also crossed above the MACD Signal line in the last few hours. Traders generally see this specific technical occurrence as an indication that a crypto has entered a short-term positive trend. With the MACD line breaking away above the MACD Signal line, it seems the meme coin’s bullish momentum is growing stronger as well.
If these technical flags are validated, the DOGS price could soon overcome the $0.001186 barrier. DOGS is not the only meme coin that is on a positive streak, as the presale for Crypto All-Stars (STARS) zooms towards $1 million.
A Unified Staking Experience
Crypto All-Stars (STARS) will introduce a unique staking experience that will enable investors to earn passive rewards by locking up tokens other than the project’s native STARS meme coin.
Through its MemeVault solution, the project gives meme coin lovers a single platform to earn rewards by staking Dogecoin, Shiba Inu, Pepe Coin, Floki, Brett, Mog, Milady Meme Coin, Toshi, Coq Inu, Bonk, and Turbo. More staking options will be added to the platform in coming months.
Additionally, all rewards are paid in STARS, which can also be locked up for an APY of 1,463%. With its unified meme coin staking offering, it’s easy to see why crypto experts and analysts are excited about Crypto All-Stars
One such expert is popular YouTuber Jacob Crypto Bury, who made a bold prediction about the project in a recent video to his 42K subscribers.
Closing In On The $1 Million Mark
After raising over $900K in just 3 weeks through its ongoing presale, Crypto All-Stars has continued its momentum and is on the verge of surpassing the $1 million milestone.
In addition to the project’s unique multi meme coin staking offering, a potential factor behind this investor frenzy at this early stage could be the high staking yield being offered to anyone who stakes STARS.
To get in on these rewards, investors will first want to acquire the token using the simple buy widget embedded on the project’s website. Selling for $0.0014248, the meme coin can be bought with either ETH, USDT, BNB or bank card.
Once purchased, the tokens can be staked through the staking page on the website for investors to start earning the estimated 1,457% annual yield.
Anyone interested in buying STARS should act fast to lock in the best rate because the meme coin’s price is scheduled to increase during the subsequent stages of its ICO. The next price adjustment will happen in less than 43 hours.
Purchase STARS here before the next price increase.
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