Dogecoin Price Prediction: New ICO Dogecoin Enters 20 with $250,000 Rise in One Day as DOGE Plunges 11%

Dogecoin price sudden drop It has risen more than 11% in the past 24 hours as investors sold off their meme coin holdings as the sector plunged, trading at $0.1611 as of 8:25 a.m. ET.

Dogecoin price falls below the positive trend line.

DOGE/USDT 4-hour chart (Source: TradingView)

that much Dogecoin The price has fallen below the positive trend line formed on the 4-hour chart over the past few weeks. This also caused the pair to lose the $0.16750 support and continues to trade below this key price range. If Mimcoin fails to close the 4-hour candle above $0.16750 over the next 8 hours, it may risk testing the immediate support level of $0.14713 by the end of today’s trading session. At this point, continued selling pressure could push the value of the leading meme coin down to $0.12408 in the next 48 hours.

On the other hand, reclaiming the position above $0.16750 could prove that the recent decline was nothing more than a liquidity-building move. Therefore, Dogecoin price could attempt to challenge the next major resistance level at $0.17875 and if the bulls continue to rally, there is a possibility of a near-term rise to $0.19586. DOGE’S price.

Technical indicators on DOGE’s 4-hour chart show that the cryptocurrency has entered a short-term negative cycle. Both Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicators are bearish.

Technical flag warns that Dogecoin price may continue to fall.

This comes after MACD crossed below the MACD signal line over the past 24 hours, triggering a significant bearish technical signal. The previous breakout below the latter also suggests that the bearish trend currently shows no signs of slowing down.

Meanwhile, RSI is trading below the simple moving average (SMA). This indicator also shows that DOGE is closer to oversold areas than overbought areas, which are generally considered buy signals. It appears that traders have already started identifying the current levels of the meme coin as a good buy as the RSI line is positively sloping. However, risk-averse traders may wait for RSI to break above the SMA again on the 4-hour chart before buying DOGE.

While Dogecoin price attempts to reclaim key support levels, Dogecoin20’s Pre-sales raised more than $250,000 on the first day alone.

Long-Awaited Dogecoin Update

Dogecoin was originally launched in 2013 as a joke by Billy Markus and Jackson Palmer. The cryptocurrency has built a large and loyal following since its launch, becoming the largest meme coin on the market with a market capitalization exceeding $23 billion.

Now, Dogecoin20 is working to continue the legacy of the meme coin market leader and move the cryptocurrency up the rankings.

Dogecoin20 is the first serious upgrade of the Dogecoin brand and products. One of the key differences is that Dogecoin20 comes with a fixed supply of tokens, unlike DOGE’s infinite supply.

This already gives the new meme coin an edge over the older meme coin in terms of future value. Because Dogecoin20 was launched on the Ethereum blockchain, it is more environmentally friendly than DOGE, which uses a computationally expensive proof-of-work consensus mechanism.

Investors are rushing to buy Dogecoin20

Dogecoin20’s ICO has been successful and has already surpassed $312K as it enters its second day. Investors are scrambling to secure Meme Coins before the price rises within six days. Another potential reason for investors to rush to buy Dogecoin20 could be the whopping 1,872% annual rewards offered through token staking.

🚀 #DOGE20 It’s not just another offshoot inspired by the Shiba Inu.

In keeping with Dogecoin’s ethos of doing only good things every day, it offers passive rewards through on-chain staking. 🌱🌟

Our most widely loved products embrace a greener, more sustainable future. #memecoin oh my god! 🐾 pic.twitter.com/zqlONodRPB

— Dogecoin20 (@DOGE_COIN20) March 14, 2024

Anyone who wants to take advantage of this incredible opportunity early should visit Dogecoin20’s official website, link their wallet and purchase native DOGE20 tokens. Purchased tokens can be staked on the website to accumulate rewards.

DOGE20, which sells for $0.00014, can be purchased using Ethereum (ETH), Tether (USDT), Binance Coin (BNB) or a bank card.

DOGE20 available for purchase here.

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