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The Dogecoin price surged 26% in the last 24 hours to trade at $0.2045 as of 02:37 a.m. EST on trading volume that skyrocketed 227% to $10.3 billion.
This comes as Donald Trump is set to become president for the second time after defeating Kamala Harris in the US election. Trump has promised to be ”crypto president” and Dogecoin may be a big winner if Trump appoints DOGE fan Elon Musk to head a Department of Government Efficiency (DOGE) in his administration.
Dogecoin Price Could Continue Soaring
According to the DOGE/USD chart analysis, the Dogecoin price is currently capitalizing on the cup and handle pattern, formed as DOGE found support within the $0.096 support, according to data from GeckoTerminal.
The uptrend has pushed the price of Dogecoin to now trade above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the price may continue soaring. Moreover, the 50-day SMA has now surpassed the 200-day SMA, which has now formed a golden cross around $0.128.
Meanwhile, the Relative Strength Index (RSI) is currently at 76.28, which is above the 70 level, signaling overbought conditions. When the RSI is above 70, it suggests that buying pressure has been strong, potentially driving the asset to levels where a pullback or consolidation might occur.
The MACD line (blue) is above the Signal line (orange), which is a bullish configuration, indicating upward momentum. Additionally, the MACD histogram bars are positive, reflecting growing buying pressure.
Dogecoin Price Prediction
Overall, the DOGE/USD chart on the 1-day timeframe indicates a strong bullish trend, as the Dogecoin price moves towards a bullish rally. If this momentum sustains, the price of Dogecoin could rise, as they target $0.26.
The RSI now shows that DOGE is overvalued and overextended, which may indicate an incoming price correction. In this scenario, the DOGE price plunges, the 50-day SMA at $0.1287 could act as the next possible support level.
Meanwhile, as meme coins soar, investors are also rushing to buy a Pepe alternative called Pepe Unchained (PEPU), which has just blasted past $25 million in presale.
According to 99Bitcoins, a YouTube channel with over 706K subscribers, this new meme coin could potentially surge by 100X following its launch.
Pepe Unchained Heads For $30 Million – Best Crypto To Buy Now?
Pepe Unchained continues to strut its stuff in its ICO, one of the most successful of all time.
True to its name, Pepe Unchained aims to free Pepe, a prisoner chained to his old, clunky Layer 1 server room on Ethereum. That’s why PEPU comes with its own proprietary Ethereum Layer 2 blockchain that’s faster, cheaper and more scalable than Ethereum.
Who needs some Brain Powder?
Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy
— Pepe Unchained (@pepe_unchained) June 20, 2024
The new project will have a dedicated block explorer and decentralized exchange (DEX), and it’s already offering developer grants aimed at ensuring its blockchain remains on the leading edge.
Pepe Unchained L2 Sneak Peek!
What we’re building is not just a new chain, but an entire ecosystem.
🐸Pepe Unchained L2
🐸Block Explorer
🐸DEX
🐸Bridge
🐸Advanced Analytics
🐸Builder GrantsPepe Unchained is coming. And it’s going to shake up the crypto space. pic.twitter.com/ZVnvgO6MGF
— Pepe Unchained (@pepe_unchained) September 26, 2024
Token holders can also earn passively through the platform’s staking system, which offers a huge annual percentage yield (APY) of 95%.
You can buy $PEPU tokens for $0.01229 each. With a price hike coming in less than 2 days, buy soon to lock in the best deal.
To join the presale, buy $PEPU from the official website here using ETH, USDT, or a bank card.
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- Featured in Cointelegraph
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- Staking Rewards – pepeunchained.com
- $10+ Million Raised at ICO – Ends Soon
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