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The DOG•GO•TO•THE•MOON price soared over 26% in the last 24 hours to trade at $0.009579 as of 7:35 a.m. EST as investors rush to buy the meme coin.
Top-performing cryptos (Source: CoinMarketCap)
The gain posted by the DOG price during the last 24 hours was the largest among the top 100 cryptos by market capitalization. Kaspa (KAS) was the next best performing altcoin after it pumped more than 15%.
The DOG•GO•TO•THE•MOON Price Is Attempting To Break Resistance
4-hour chart for DOG/USDT (Source: TradingView)
The DOG•GO•TO•THE•MOON price printed a series of higher highs and higher lows on the 4-hour chart, resulting in the formation of a positive trend line. DOG is now attempting to overcome the resistance level at $0.009745.
A break above this threshold could give the crypto the foundation needed to continue rising in the following couple of days. The DOG•GO•TO•THE•MOON price might subsequently attempt to set a new all-time high.
On the other hand, a rejection from the $0.009745 barrier in the coming 12 hours could invalidate the bullish thesis. In this alternative scenario, DOG might test the immediate support level at $0.008330.
This will be a key price point to watch since it is also confluent with the positive trend line that has emerged on DOG’s charts. Therefore, the DOG•GO•TO•THE•MOON price losing the $0.008330 support could expose the meme coin to the risk of plunging to the next key mark at $0.006505 in the short term.
The DOG•GO•TO•THE•MOON Price Backed By Bullish Indicators
Technical indicators on DOG’s 4-hour chart suggest the DOG•GO•TO•THE•MOON price might have the bullish backing needed to keep climbing in the coming 24 hours. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing bullish signs.
Bulls recently gained an advantage against bears over the past 24 hours, as indicated by the RSI line breaking above its Simple Moving Average (SMA) line during this period. Traders usually see this as a sign that a crypto is showing bullish strength. The RSI line is positively sloped as well, which might indicate that bulls are growing stronger.
Meanwhile, the MACD line also crossed above the MACD Signal line throughout the past 24 hours. This could indicate that DOG•GO•TO•THE•MOON has entered a positive trend, and its price might subsequently rise in the upcoming 24 hours.
With DOG showing strong bullish signs, investors might begin to allocate capital towards other canine-themed altcoins such as PlayDoge (PLAY) for additional gains.
Reviving A Popular Legacy Game
PlayDoge is one of the latest dog-themed cryptos to enter the meme coin space. Although the crypto’s mascot has some ties to Dogecoin, PlayDoge has far more growth potential than the original meme coin.
PlayDoge aims to modernize the once-popular Tamagotchi companion games. Back in the 90s, Tamagotchi devices achieved viral success, but players’ experiences were somewhat limited. After some time, the virtual companions died, forcing players to start over with a new pet.
PlayDoge, through its combination of blockchain and smartphone technology, is looking to modernize the once popular game while also addressing its initial shortfalls.
Additionally, the inclusion of blockchain technology allows for gameplay that is designed around a rewards-incentivization economy. The PLAY token will act as a value transfer and transactional layer in the game, where feeding, training and other nurturing activities will be rewarded.
As such, the more players engage with their pets, the greater the rewards they stand to receive.
Investors Bet Big On PLAY
The PLAY ICO has exploded with investors socking $1.7 million into the project in just one week.
Apart from the potential speculative opportunity, there is also a lucrative staking opportunity available to anyone that buys PlayDoge at this early stage. Presale investors are able to lock up their tokens for a 175% APY.
Analysts are also bullish on the new meme coin. Crypto YouTuber Jacob Bury recently analyzed the crypto’s potential to generate substantial returns for investors, and says it has the potential for 10X gains after launch.
Anyone that wants to get in on this opportunity can do so through the simple buy widget embedded on the project’s official website. Selling for $0.00502, PLAY can be bought using BNB, ETH, USDT or a bank card. Investors will want to hurry, however, because the token’s price is set to increase in less than 44 hours.
Purchase and stake PLAY here for up to 175% in annual rewards.
Related Articles:
PlayDoge (PLAY) – Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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