Dogecoin Price Outlook: Can Doge Hit $0.1 This Year or Could Meme Kombat Outperform Pump Higher
Dogecoin has climbed 1.93% today and is currently trading at $0.07622. However, it remains down 4% this week after the U.S. Department of Justice (DoJ) fined Binance $4.3 billion and its CEO resigned. Is this a good time to buy Dogecoin, or is it poised for further downside movement?
Meanwhile, the new trending presale Meme Kombat continues to garner attention after blasting past $2 million.
Dogecoin Pumps With Traders Bullish on Next Move
Despite a recent pullback, Dogecoin remains in a strong position, having recently made a significant move on the weekly time frame price chart.
DOGE broke above its long-term bearish trend line, indicating a potential reversal could be ahead.
The breakout followed a bear market support retest, with both factors increasing the likelihood of a move to the top of its current range.
This is also amplified by the growing trading volume as the price increases, suggesting that the market is regaining interest in DOGE as its price grows.
Moving to the daily time frame, Dogecoin’s recent daily candle was significantly bullish, finding strong support at resistance of its previous higher high.
However, there are two main issues that Dogecoin is facing on the lower time frame daily chart. First, its trading volume is falling in recent days.
Second, it has formed a bearish divergence on the RSI indicator – where its price makes a higher high, but the RSI does not. This indicates reduced momentum and a potential trend reversal.
Based on these factors, Dogecoin may undergo a short-term correction before continuing its rally and moving toward $0.1 and beyond.
TradingView analyst deadline7079 also noted this, stating that Dogecoin could correct toward $0.6 before an uptrend continuation.
That said, other traders remain highly bullish on Dogecoin’s next move. For instance, KALEO expects Dogecoin to climb higher due to its macro trend breakout.
Meanwhile, Arash_Kamangir2020 stated, “The big pump is coming,” predicting that DOGE will soon break its ATH after breaking out from its bear market accumulation phase.
Ultimately, Dogecoin seems poised for success in the coming months, although it may experience a brief pullback first. However, several other projects are gathering momentum and may prove better alternatives to Dogecoin.
One is Meme Kombat, a compelling multi-purpose meme coin currently undergoing a presale.
Is Meme Kombat a Better Buy Than Dogecoin? ICO Hits $2M
Meme Kombat is a new trending meme coin that offers GambleFi utility for an engaging, interactive, and vibrant user experience. It delivers a fresh use case to the meme coin market, leveraging the crypto gambling trend to appeal to a new audience.
The platform enables users to bet on the outcome of AI-generated battles between meme coin characters. Users require the $MK token to wager on battles, providing a steady stream demand.
Moreover, Meme Kombat features a staking mechanism, currently offering a 478% annual percentage yield (APY). As well as rewarding holders, staking could drive additional demand while reducing $MK’s available supply.
Staking is already live on Meme Kombat, meaning presale buyers can begin compounding their investment immediately. However, they must hurry as the APY decreases as the staking pool grows.
The presale recently exceeded $2 million after launching seven weeks ago. This indicates tremendous investor interest, which is also evident in its coverage from media outlets and analysts.
Top media figures like Cointelegraph, Coinpedia, and Crypto News have all backed Meme Kombat to explode after its IEO.
Meanwhile, analysts are also bullish on the presale. YouTuber Crypto Gains speculated that it could 10x, urging investors to get in early. Meanwhile, Michael Wrubel recently provided multiple reasons why he is bullish on the project.
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