Dogecoin Worth Prediction: DOGE Plummets 10% As Traders Flock To This ICO For Safer Meme Coin Investing

The Dogecoin value dropped 10% within the final 24 hours to commerce at $0.2065 as of three:35 a.m. EST on buying and selling quantity that skyrocketed 144% to $2.94 billion.

The DOGE value has seen two sharp drops previously week, the primary of which got here on Feb. 21. After the worth traded sideways for days slightly below $0.26, the worth dropped sharply on February 21 to $0.24. After that, it made a slight restoration to $0.25, solely to see one other sharp drop yesterday.

With the latest drop, the DOGE value broke the assist at $0.24, pushing the worth right down to $0.20. On a weekly foundation, DOGE noticed a drop of over 18% as its token holders continued to promote.

Dogecoin Worth Prediction

Following its drop to $0.20, the Dogecoin value tried a restoration however was rejected earlier than even reaching $0.21. Its Bollinger Bands have seen a number of widenings and narrowings previously day, every time when one other assist received damaged and the worth continued to dip additional.

A lot of the widening got here from the worth pushing the decrease band additional down, which is, after all, a bearish sign.

Alternatively, the challenge’s Relative Power Index (RSI) has been fairly in step with its efficiency, fluctuating between the oversold zone and the impartial worth at 50. On condition that the RSI has been transferring from 50 to 30 and again once more, hardly ever exceeding both of those two boundaries, it seems that merchants have been utilizing it as their fundamental metric for making small features a number of instances per day.

Proper now, the RSI is midway between these two obstacles, sitting on the worth of 37.61 after a failure to succeed in 50 earlier. It stays to be seen whether or not it would accumulate sufficient shopping for strain to return as much as the impartial worth, or if it would merely sink again right down to the oversold zone.

Both method, the RSI, in addition to the Dogecoin value, are struggling proper now, which might be a possibility for long-term traders to purchase DOGE at a reduction. These in search of short-term features, nevertheless, ought to take into account some DOGE alternate options.

Promising Various To Dogecoin

One of the vital promising alternate options to Dogecoin is Meme Index (MEMEX) — a challenge that goals to make meme coin investing safer and extra handy by introducing baskets of cryptos that you could put money into.

These baskets, or indexes, all include totally different ranges of threat, however are typically safer to put money into than any particular person meme coin, for the reason that whole index’s efficiency is dependent upon the efficiency of nearly all of cryptos saved inside. In different phrases, even when one or two of the meme cash inside are struggling, so long as the others are performing properly, you possibly can nonetheless count on features.

The challenge introduces 4 indexes known as Titan, Moonshot, MidCap, and Frenzy, the place every comes with extra threat than the earlier one. After all, with larger threat comes larger reward if issues go properly for almost all of meme cash. Nonetheless, the danger of dropping your whole funding additionally will increase.

To put money into any of those baskets, you have to the challenge’s native token, MEMEX. Proper now, MEMEX continues to be in presale, providing traders a possibility to purchase it at a low value of $0.0165556. Many have already jumped on the chance, permitting the challenge to boost over $3.84 million in the previous couple of weeks.

ClayBro, a crypto YouTuber with over 136k subscribers, views it as an excellent shopping for alternative now that the remainder of the meme coin market is struggling. MEMEX would possibly go reside simply in time when the restoration interval begins, through which case its value may see a serious surge after it launches.

Purchase MEMEX tokens right here earlier than a presale value hike in 42 hours to lock in the most effective deal.

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