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The Dogecoin price is up 21% over the past 7 days even after falling 4% in the past 24 hours to trade at $0.2249 as of 6:27 a.m. EST.
The slight drop in the DOGE price in the last 24 hours comes amid surging on-chain activity for the meme coin. Data from Glassnode shows the number of Dogecoin active addresses rose from 61,892 on May 7 to 674,527 as of May 14, representing a nearly 990% surge in a week.
Dogecoin Price Being Held Down By A Negative Trend Line
4-hour chart for DOGE/USD (Source: GeckoTerminal)
A negative trend line has emerged on DOGE’s 4-hour chart following a series of lower highs in the last few days, according to GeckoTerminal data. This trend line has forced the Dogecoin price down all the way to a key support level at $0.2177. A drop below this technical safety net might lead to a plunge to as low as $0.1941 in the short term.
On the other hand, traders identifying the current Dogecoin price as a buy opportunity might lead to a rebound for the largest meme coin by market cap. In this alternative scenario, DOGE could end up flipping the resistance level at $0.2432, which is currently confluent with the negative trend line, into support. Thereafter, the crypto might end up rising to $0.2708.
Technicals Leaning Bearish, But Buyers Could Still Boost The Dogecoin Price
Looking at technical indicators on the 4-hour chart, bears seem to have a slight upper hand against bulls. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are leaning in favor of sellers.
Over the past couple of days, the MACD line has broken away below the MACD Signal line. This suggests that not only is the Dogecoin price in a negative trend, but that its bearish momentum is picking up steam as well.
Meanwhile, RSI readings have dropped from the low 60s to just below 50, which is slightly bearish. However, the current value for the indicator suggests there is still an opportunity for buyers to step in and take control of the Dogecoin price.
As the Dogecoin price nears a key support, investors are FOMO buying a new meme coin rival called MIND of Pepe (MIND) before its presale ends in less than 16 days.
According to crypto YouTube channel 99Bitcoins, which has over 725K subscribers, MIND has the potential to soar 10X after its launch.
MIND Combines Two Booming Sectors Into One Coin
MIND of Pepe is a new meme coin that looks to take the market by storm. To maximize the token’s chances at success, the token’s team has also introduced a powerful AI. As such, MIND is perfectly positioned to ride off of the soaring hype around both the AI agent crypto and meme coin sectors.
The MIND of Pepe AI agent, which went live on X on May 10, is constantly on the look out for early signs of new trends emerging in the market. It has a live, direct feed into social platforms such as X, Discord and others, and also plugs into various DeFi protocols to pull on-chain information in real-time.
All of the data is then passed through the AI agent’s hive-mind analysis engine. If a new trend or change in trend is identified, the computer model immediately notifies MIND holders through token-gated groups, enabling them to capitalize on the new market conditions early.
The AI can even launch its own tokens that align with the trends it identifies, promote them online, trade them, and reinvest any profits back into MIND, all autonomously. With each new token the AI creates, it lets MIND holders buy in early. This positions them for potential parabolic gains if the tokens take off.
MIND Offers Investors Last Chance To Buy In Presale
MIND has raised over $9.2 million through its presale so far. Now, with less than 16 days left until it ends, time is running out for investors to get in on this ground level of the project.
Investors can buy MIND tokens for $0.0037515 each with ETH, USDT, BNB, USDC or bank cards. Once bought, the tokens can also be staked for an attractive 245% APY.
Visit the MIND of Pepe website.
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