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The Dogecoin price jumped over 5% in the last 24 hours to trade at $0.2025 as of 10:29 p.m. EST as investors begin accumulating the meme coin.
The uptick in the DOGE price coincided with a broader crypto market rebound that saw the capitalization of the digital asset space rise 3% over the past 24 hours, according to CoinGecko data.
Dogecoin Price Closing On A Major Resistance
4-hour chart for DOGE/USD (Source: GeckoTerminal)
The Dogecoin price is closing on a resistance level at $0.2079, GeckoTerminal data shows. Should the meme coin clear this technical obstacle in the next 12 hours, it could end up rising to the subsequent mark at $0.2334.
However, a rejection from the $0.2079 resistance could lead to a pullback and a potential test of the closest support level at $0.1823. In an extremely bearish case, the Dogecoin price might even drop to the subsequent mark at $0.1670.
Buyers On The Verge Of Taking Complete Control Of The Dogecoin Price
Looking at technical indicators on DOGE’s 4-hour chart, there are signs that suggest the Dogecoin price will rise in the next couple of hours. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bullish signs.
In recent hours, the MACD line has started to rise towards the MACD Signal line. This narrowing gap between the two momentum indicators suggests that DOGE’s bearish trend is nearing its end and that the leading meme coin is gearing up to enter a new positive cycle.
Meanwhile, RSI readings have risen from oversold territory below 30 to the high 40s. Traders might see the increasing RSI values as an indication of growing buyer strength.
While the current reading below 50 is slightly bearish, the positive slope of the RSI line suggests that buyers are on the verge of taking back control of the Dogecoin price from sellers.
As buyers try to take control of the Dogecoin price, investors flock to the presale for meme coin rival Meme Index (MEMEX) to grow their crypto holdings. Multiple experts have stepped forward to share their bullish predictions for the new meme coin. Among them is Jacob Bury, a popular analyst and YouTuber with over 55.5K subscribers, who says MEMEX could soar 10X.
A New Way For Investors To Get Exposure To Meme Coins
With the soaring popularity of meme coins, the number of tokens in the market has skyrocketed. Additionally, the number of meme coin rug-pulls and scams is on the rise. Investing in meme coins has subsequently become more tricky, with investors now finding it much more difficult to spot the next gem that could lead to meteoric gains.
Meme Index, with its carefully curated investment baskets of meme coins, aims to address the obstacles investors now face when trying to get in on meme coins.
At the core of the project are 4 baskets, or indexes, that each feature different meme coins which are grouped according to their perceived level of investment risk. These baskets are Meme Titan, Moonshot, Midcap, and Meme Frenzy.
The relatively safer Meme Titan focuses on established meme coins, while the highest-risk Meme Frenzy features emerging tokens that could surge but are also highly volatile. To get in on any of the project’s baskets, investors simply need to buy MEMEX tokens.
By holding MEMEX, investors will gain exposure to multiple meme coins, meaning that investors stand to gain as long as the majority of the meme coins in the selected basket are in the green. Additionally, MEMEX holders also get to vote on which cryptos go in each basket.
With the crypto market rebounding and talks of a 2025 meme coin supercycle circulating in the market, MEMEX could be the ultimate meme coin play for investors looking to maximize their returns in the next rally.
Meme Index Presale Offers One Last Chance To Buy
Meme Index has raised over $3.9 million through its presale so far, signaling strong market demand for the meme coin at this early stage.
This total raise is likely to surge in coming weeks, as Meme Index’s ICO enters its final stretch. With just 26 days left until the presale ends, investors have one last opportunity to buy MEMEX at this ground level.
Interested investors can acquire MEMEX through the widget embedded on its website using either ETH, USDT, BNB or bank card. The token is currently selling for $0.0166883, and can be staked for an attractive 580% APY.
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