Dogecoin, the people’s meme-coin, has once again taken center stage by becoming the top-performing asset of the day. The token is currently trading at $0.079279 as of this writing, marking nearly a 2% increase over the last 24 hours. This recent surge may leave investors contemplating whether hopping on the Dogecoin bandwagon is the right move.
Last week, Santiment, a leading crypto analytics platform, unveiled some captivating insights regarding Dogecoin. The report highlighted a significant 25% price surge for DOGE over a fortnight, leading to notable profits for average DOGE traders. Such revelations are likely to stir investor confidence and ignite buying interest, potentially leading to an uptick in Dogecoin’s price.
From a technical viewpoint, Dogecoin presents a mildly bullish outlook and is struggling to surpass the resistance level of $0.0822. However, a minor bullish correction appears to be on the horizon, with a potential support forming around $0.0783. Traders must keep an eye for levels below this, at around $0.0760, a breach of which could bring $0.0740 or $0.07 into play.
Technical indicators, namely the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), indicate a consolidated trend, pointing to a prevailing bearish sentiment. Nevertheless, the 50-day Exponential Moving Average (EMA) acting as resistance around $0.0800 on a four-hour timeframe is noteworthy; any close below this EMA could signal further bearish dominance.
While Dogecoin has been making a splash, another meme coin is making its entry. Stepping into the spotlight is Wall Street Memes, an active online group of retail investors, who have orchestrated a successful presale for their meme coin, $WSM. The presale saw a staggering collection of over $18 million within weeks of launch, highlighting its impressive fundraising prowess.
Currently, $WSM can be scooped up for $0.0325 during the presale phase, with the amount rising gradually to $0.0328. This potential escalation provides an opportunity for investors to seal guaranteed gains by joining the presale. Mark this as your call-to-action. Grab your share of $WSM and be a part of this thrilling journey. Hop onto the $WSM presale and join an enticing community.
Remember, surprises and disappointments come hand in hand with the volatile crypto markets. Exercise your due diligence and invest wisely.
Source: Cryptonews
