The Dogecoin price has jumped by 0.5% in the past hour, with the meme token rising to $0.060839, where it marks a 0% gain in the past 24 hours.
Despite its gain, DOGE remains down by 2.5% in a week and by the same percentage in the last 30 days, with the coin also having declined by 13.5% since the beginning of the year.
Given that many major tokens (e.g. BTC, ETH, XRP, SOL) have actually risen since January, this counts as an underperformance for the famous meme token, which has suffered from a lack of positive news and developments.
Yet with the Dogecoin community holding out for some kind of integration with X (formerly Twitter), it may not be long before a new bull run begins.
Dogecoin Price Prediction: DOGE Holds at $0.06 – Is a New Bull Run Starting?
Dogecoin has been oversold for a long time now, with its indicators all remaining in very weakened positions.
Yet such positions suggest that the coin continues to be sold at a steep discount, and that a recovery has been long overdue.
For example, DOGE’s relative strength index (purple) remains at the 40 level, and it’s actually been lower than 40 and close to 30 since the middle of August.
For a normal asset, this is a long time to be oversold, with DOGE’s 30-day moving average (yellow) also signalling that the market has undervalued the meme token for several months.
However, it’s medium-term support level (green) is worrying, insofar as it hasn’t really risen in the past few weeks, suggesting that further losses could be incoming before DOGE can mount a serious recovery.
Yet the past hour’s gain hints at a possible changing of fortunes, even if there’s nothing fundamental about Dogecoin and its recent happenings which would call for a buying frenzy.
Indeed, the coin has witnessed no significant news in the past few weeks, save for Elon Musk responding to a tweet from DogeDesigner, who called on X/Twitter to retire the birdhouse icon that’s used to represent the social network’s homepage.
Admittedly, this hardly counts as ‘significant’ news, unless you want to take Elon Musk’s willingness to interact with members of the Dogecoin community as an indication that he still very much supports DOGE and wants to integrate it with X.
However, such an interpretation would probably be premature, even if X clearly has plans to introduce payments of some form in the not-too distant future, having received money transmitter licences in the past few weeks and months.
Assuming that X does introduce DOGE payments, there’s little doubt that the token would rocket.
Yet there has been no real indication that X will introduce crypto (rather than fiat) payments just yet, as well as no real indication that DOGE will be prioritized over other cryptocurrencies.
New Altcoins With Strong Fundamentals
As an alternative to DOGE (which may take a long time to move significantly), many traders may prefer to diversify into newer altcoins, which can have a higher probability of posting strong, market-beating gains.
This is particularly the case with presale tokens, which can often surge when listing on exchanges.
And one of the most appealing presale coins right now is TG.Casino (TGC), a new Ethereum-based casino that uses Telegram and cryptocurrency to offer an innovative approach to online gambling.
Having begun its presale at the end of last week, TG.Casino has already raised over $220,000, with the speed of this raise offering some indication of the interest in the new project from investors.
What’s unique and interesting about TG.Casino is that it will have a significant presence on Telegram, where it will tap into pre-existing communities of cryptocurrency investors and online gamers, who will form the platform’s userbase.
Yet as a blockchain-based gaming ecosystem, its platform will also use smart contracts to provide fairness and transparency in its bets and games, so that users will receive instant payouts whenever they win.
Its platform will feature a wide variety of games, from traditional casino-style propositions to video games, meaning that it should provide something for almost everyone.
Its native token, TGC, will be used to pay platform fees and for staking, thereby earning its holders a passive income.
TGC will have a total maximum supply of 100 million tokens, with 40% of this supply going to the presale, 20% going to staking rewards, 20% going to DEX liquidity, and 10% to gaming rewards (another 10% will go to marketing and affiliates).
Set to run for the next few weeks, anyone can participate in TGC’s sale, simply by going to the official TG.Casino website and connecting their wallets.
1 TGC will sell for $0.125 for the entire sale, with the coin’s fundamental likely to help it rally big once the sale ends and it lists on exchanges.
Visit TG.Casino Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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