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The Dogecoin price pumped more than 6% in the last 24 hours to trade at $0.1622 as of 11:24 p.m. EST.
The pump came after Elon Musk mentioned DOGE during an interview on the Joe Rogan podcast, referring to the acronym for the Department of Government Efficiency (DOGE) that he might head if Donald Trump is elected president. Such references have often triggered spikes in the Dogecoin price.
Dogecoin Price About To Challenge Resistance
4-hour chart for DOGE/USD (Source: GeckoTerminal)
The Dogecoin price has been in a positive sequence on the 4-hour chart in the last 24 hours, and is now attempting to overcome the resistance level at $0.1680. A 4-hour candle close above this threshold within the next 12 hours could give the leading meme coin the foundation needed to rise to as high as $0.1921 in the short term.
On the other hand, bears preventing DOGE from breaking above $0.1680 within the next 12 hours could bring an end to the crypto’s positive momentum. This could instead put the Dogecoin price at risk of testing the closest support level at $0.1440. Extreme sell pressure in this alternative case might even lead to DOGE plunging to as low as $0.1211.
Technicals Point To A Continued Rise For The Dogecoin Price
From a technical perspective, indicators on DOGE’s 4-hour chart suggest the meme coin might continue to climb in the coming 24 hours. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are flashing bullish.
Firstly, the MACD line crossed above the MACD Signal line through the course of the last trading day, with the gap between the two lines growing as well. Traders usually see this crossover as an indication that a crypto has entered a positive trend.
Meanwhile, RSI readings rose higher than 50 in the last 24 hours to suggest buyers have taken control of the Dogecoin price. With the positive slope of the RSI line, it also seems bulls show no signs of easing their pressure on the meme coin’s price any time soon.
With technical indicators flashing bullish for meme coin leader DOGE, now might be a good time for the crypto’s backers to rotate some profits into Memebet Casino (MEMEBET Token), which is the first online casino that allows direct wagering in meme coins.
Giving Meme Coin Investors An Opportunity To Win Big
Memebet Token is a pioneering online casino project that lets investors wager directly with their meme coin bags, giving them the opportunity to win big without having to swap their meme coins for more widely-accepted cryptos and tokens.
Along with DOGE, players will also be able to gamble with other big-name meme coins, including Pepe, on the platform.
Memebet Token offers its platform’s users a wide variety of games to potentially grow their meme coin holdings in a fun and engaging way. This includes a no KYC Telegram casino, a global sportsbook, as well as 1,000s of other crypto-native games.
In addition to offering users the chance to win big, the project will also be launching lootboxes soon, which will grant holders access to “the most degen assortment of real world prizes,” according to the Memebet Token website.
Experts and analysts also believe MEMEBET Token has immense speculative potential. One such expert is popular YouTuber ClayBro, who told his more than 130K subscribers that early investors could see massive gains once the token launches.
Investors Take A Bet On MEMEBET Token’s Future
Investors have sent more than $564K to MEMEBET Token’s ongoing ICO, signaling strong confidence in the project’s future. With the potential to earn substantial rewards and the bullish predictions by experts like ClayBro, it’s easy to see why investors are excited about the meme coin.
Anyone can get in on the ground stage of the project using either bank card or crypto. The available crypto payment options include ETH, USDT, BNB and POLY.
MEMEBET Token is currently selling for $0.0264, but investors will want to act fast as the token’s price is scheduled to increase with each subsequent stage of its presale. There are just 3 days left until the next price hike.
Purchase MEMEBET on its official website here.
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