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The Dogecoin price climbed 2.64% in the last 24 hours to trade at $0.1717 as of 11 p.m. EST on a 26% plunge in trading volume to $1.02 billion.
This comes as crypto influencer Ali Martinez, with almost 133k followers on X, notes that DOGE active addresses have jumped about 48% in the past month, from 110,000 to 163,000.
Dogecoin Price Battles Key Support As Bears Dominate: Will A Reversal Happen?
The Dogecoin price is currently trading around $0.17171, with growing concerns over its ongoing bearish momentum. Earlier in the session, the cryptocurrency peaked near $0.50, forming a clear double-top pattern that many analysts regard as a potential reversal signal.
The $0.30 neckline breakdown further intensified the sell-off, prompting a shift into a well-defined bearish channel marked by steadily lower highs and lower lows.
Market observers note that the Dogecoin price is now testing a major support zone between $0.16 and $0.17. This area has appeared as a battleground: if buyers manage to hold these levels, there is a possibility for a rebound towards the $0.20 – $0.25 range.
DOGEUSDT Analysis Source: Tradingview
In such a scenario, a breakout above $0.25 could trigger renewed optimism among traders, potentially driving the price even higher to levels around $0.30 – $0.35. However, if the support fails, further downward pressure could drive DOGE toward the next significant support zone identified between $0.12 and $0.14.
The Relative Strength Index (RSI) currently sits at 36.32, which is approaching oversold territory but remains just above the 30 threshold. This reading implies that while bearish momentum has been dominant, the asset is not yet in a deep oversold state that might indicate a looming turnaround.
The broader market sentiment surrounding Dogecoin reflects a cautious outlook. The formation of the bearish channel, combined with the breakdown of key resistance levels, means that a period of consolidation or further decline might be on the horizon.
At the same time, the possibility of a double bottom formation emerging near the $0.16 – $0.17 support level offers a glimmer of hope for a potential trend reversal, though this remains speculative until confirmed by sustained price action.
MIND Of Pepe Presale Races Toward $7.5 Million – Best Crypto To Buy Now?
While traders gear up for a bullish rally for Dogecoin, investors continue to add more money to an AI Pepe hybrid crypto project called MIND of Pepe (MIND).
The project’s presale has gone parabolic after raising over $7.3 million in funding.
MIND of Pepe is the first AI-driven meme coin to feature the iconic PEPE branding. It combines two of the most dynamic sectors in crypto: meme coins and artificial intelligence.
By leveraging AI, MIND provides unique opportunities for its token holders while fostering an innovative and engaging experience within the crypto community.
One outstanding feature of the project’s AI agent is its ability to analyze emerging trends. Using hive-mind analysis, MIND gathers insights on the Web3 space on social media platforms like X (formerly Twitter) and Discord to track emerging crypto trends.
🚨 $MIND is Now Live in Upcoming Tokens! 🚨@MINDofPepe leverages the power of AI to help users identify new trends and exciting opportunities. The self-evolving AI agent interacts across platforms to deliver real-time updates.
Built on Ethereum, $MIND offers holders exclusive… pic.twitter.com/uyXFpYka5p
— Best Wallet (@BestWalletHQ) January 14, 2025
It passes its key findings to token holders, giving them a strategic edge in the market.
Additionally, MIND’s AI can generate and promote its own tokens based on market insights. Before these tokens are publicly launched, MIND holders gain exclusive early access.
The project also allows token holders to stake their MIND tokens for a huge 307% annual return.
99Bitcoins, a popular crypto channel on YouTube with over 726K subscribers, says MIND has the potential to soar 20X after its launch.
MIND is currently priced at $0.0035236 and can be purchased using ETH, USDT, BNB, USDC, or a bank card.
Investors interested in buying MIND should act quickly as the price is set to increase in less than two days.
Visit the official MIND of Pepe website.
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