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Dogecoin price fell It has gained more than 3% in the past 24 hours as investors have dumped some of their holdings into the meme coin, which is trading at $0.1455 as of 12:30 a.m. ET.
The DOGE price drop comes after a surge in the meme coin market triggered by the re-emergence of Roaring Kitty, a central figure in the 2021 meme stock craze, and a GameStop short-seller squeeze.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
After almost three years, he reappeared online and posted a cryptic tweet yesterday. Many believe this post signaled the analyst’s return and led to speculation about a possible GameStop 2.0.
Dogecoin price loses key support
DOGE/USD 4-hour chart (Source: gecko terminal)
that much Dogecoin The price lost the key support at $0.1470 in the last 24 hours. Therefore, the bulls are doing their best to push the price of the meme coin back above this key point.
If DOGE closes a 4-hour candle above $0.1470 in the next 8 hours, traders can take a long position in the cryptocurrency. Afterwards, the cryptocurrency may rise towards the key $0.1575 resistance level.
Traders and investors will want to keep an eye on how the Dogecoin price behaves if it reaches the $0.1575 barrier. In the past few days, meme coins have already been rejected twice due to this technical obstacle, and history could repeat itself.
However, a break above $0.1575 could lead to DOGE rising in the near term, with bulls potentially looking to capitalize on a break above this threshold.
On the other hand, if Dogecoin price fails to close a 4-hour candle above $0.1470 within the next 8 hours, the bullish argument could be invalidated. In this alternative scenario, the altcoin could immediately test $0.1344 support. If selling pressure continues, the price may fall below this technical support to $0.1224.
On the technical side, it points to a continued decline in the price of Dogecoin.
Technical indicators on DOGE’s 4-hour chart warn that Dogecoin price could enter a negative cycle in the next 24 hours. There is also a major bearish technical flag that is at risk of being triggered by the Moving Average Convergence Divergence (MACD) indicator.
DOGE’s positive momentum appears to have peaked over the past 24 hours, with the MACD line breaking towards the MACD signal line. When MACD crosses below the signal line, it most likely indicates the end of a bullish phase for the meme coin and the start of a new bearish cycle for DOGE.
Additionally, the Relative Strength Index (RSI) shows that the bull market’s power over sellers has fallen significantly. In the last 24 hours the RSI line has fallen from 59 to just above 50. viceroy It could still go either way, and this combined with the MACD suggests that the Dogecoin price could fall in the next 24 hours.
As DOGE’s momentum falters, investors’ attention is focused. doggers, one of the best performing ICOs of the year and has already raised over $15 million. We are now giving investors one last chance to purchase before launch.
Modernizing the Meme Coin Sector
In the blockchain space, there is a lot of effort being put into finding ways for networks to communicate seamlessly with each other and share information with other blockchains regardless of their different protocols.
Dogeverse (DOGEVERSE) is the first meme coin that resides on multiple blockchains. This aligns cryptocurrencies perfectly with the broader industry goal of increasing interoperability within the Web3 sector.
Owning Dogeverse allows investors to easily move value across the most liquid and active networks, allowing them to participate in high-yielding opportunities as soon as they appear.
Moreover, Dogeverse holders do not even need to exchange tokens to earn passive rewards on chain. Because this project offers ICO investors a profitable staking program with 57% APY.
Considering Dogeverse’s unprecedented level of usability, it’s easy to see why an analyst on the CryptoNews YouTube channel recently said the meme coin has 100x potential at launch.
One small step for humans, a giant leap for multichain. 🌕#memecoin #Solana #altcoin #Ethereum #Cryptocurrency #MemeCoinSeason2024 #web3 pic.twitter.com/bbKMU5qtA4
— DogeVerse (@The_DogeVerse) May 14, 2024
To acquire tokens before it’s too late, investors can go to the project website and utilize the simple purchase widget included on the page.
Due to its multi-chain nature, investors can purchase DOGEVERSE using ETH, BNB, MATIC, AVAX, SOL or BASE. USDT and bank cards are also accepted.
However, anyone who wants to stake tokens for 57% APY will need to purchase the cryptocurrency using ETH as the staking contract is on the Ethereum blockchain.
Buy and stake DOGEVERSE here and you can get up to 57% in annual staking rewards.
Related articles:
Dogeverse – Multichain Meme Coin
- Early access presale is live now.
- Bridge to Solana, base, BNB chain, polygon, avalanche
- Staking Rewards – thedogeverse.com
- Trade with low fees
- World’s first chain travel governor – Cosmo
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