{"id":563307,"date":"2024-08-11T06:45:02","date_gmt":"2024-08-11T06:45:02","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=563307"},"modified":"2024-08-11T06:45:02","modified_gmt":"2024-08-11T06:45:02","slug":"dogecoin-price-soars-2-but-experts-say-this-2-0-doge-might-be-the-next-crypto-to-explode","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-soars-2-but-experts-say-this-2-0-doge-might-be-the-next-crypto-to-explode","title":{"rendered":"Dogecoin Price Soars 2%, But Experts Say This 2.0 DOGE Might Be The Next Crypto To Explode"},"content":{"rendered":"

The Dogecoin price rose 2% in the last 24 hours <\/span>to trade at $0.106<\/span><\/a> as of 09:02 p.m. EST, despite trading volume falling 39% to $358 million.<\/span><\/p>\n

The meme coin space has rebounded with a 1% surge in the last 24 hours to a $40 billion market capitalization, as the top three cryptos in this category, DOGE, SHIB, and PEPE registered gains.<\/span><\/p>\n

According to Dogecoin metrics on <\/span>IntoTheBlock<\/span><\/a>, the market has turned bullish, as 73% of DOGE holders are currently in profit.<\/span><\/p>\n

Dogecoin Price Prediction: DOGE Aims For A Continued Surge<\/b><\/h2>\n

On July 29, the Dogecoin price fell from $0.13 and reached the $0.081 support zone by Aug. 5. However, bears could not sustain the trend, as  bulls took control of the price, propelling DOGE through a rising channel pattern.<\/span><\/p>\n

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DOGEUSDT Chart Analysis (Source: Tradingview.com)<\/span><\/p>\n

DOGE price bulls aim to sustain a position within the bullish channel. The token’s price has now surpassed the 50-day Simple Moving Average (SMA). If the momentum continues, the price of Dogecoin might eventually overcome the immediate resistance at $0.117, coinciding with the 200-day SMA.<\/span><\/p>\n

In the last week, the Relative Strength Index (RSI) has rebounded from below the 30-oversold level, and currently stands at 57. The RSI rising shows that investors are actively buying.<\/span><\/p>\n

If the buying continues, DOGE could soar to breach the $0.117 resistance. Bulls could then target the next resistance at $0.13.<\/span><\/p>\n

Conversely, if bears take control of the Dogecoin price, the meme coin might undergo a correction to the strong support around $0.095.<\/span><\/p>\n

As Dogecoin trades in a bullish channel, a new meme coin by the name of <\/span>PlayDoge (PLAY)<\/span><\/a> is set to benefit from this trend, thanks to its play-to-earn (P2E) gameplay. This utility offers investors more than just a speculative trade opportunity, as is the case with many other meme coins.<\/span><\/p>\n

According to 99Bitcoins, a prominent crypto channel on YouTube, $PLAY could surge 50X to 100X after its launch.<\/span><\/p>\n