Dogecoin Price Surges, Leading Meme Coin Market
The price of Dogecoin is experiencing a significant surge, reaching levels not seen since August. In the past 24 hours alone, DOGE has increased by over 11%, with trading volume rising by 141%. This bullish trend is also impacting other meme coins such as Shiba Inu (SHIB) and Pepe coin (PEPE).
Investor sentiment towards Dogecoin has shifted, with meme coins no longer being associated with stagnant price movements. This change comes after Dogecoin broke out from a triangle pattern, initiating a strong uptrend.
Dogecoin Price Breaks Triangle, Beginning a Massive Uptrend
After surpassing the $0.066 level and establishing it as a support floor, Dogecoin price continues to rise, currently up 11% after breaking consolidation. Technical indicators suggest that the rally is not yet over for DOGE.
The Relative Strength Index (RSI) is at 80, indicating that DOGE is heavily overbought. However, this doesn’t necessarily mean it’s time to sell, as the RSI remains in an upward trajectory. The Awesome Oscillator (AO) also shows bullish momentum.
If buying pressure continues to increase, Dogecoin price could test the supply zone between $0.075 and $0.077. A decisive move above $0.076 would confirm a continuation of the uptrend.
On the other hand, if selling pressure dominates and pushes the price below $0.066, it could flip this level back into a resistance level. In that case, the next support levels to watch are the 100-day and 50-day Exponential Moving Averages (EMA).
Dogecoin Alternative
For those seeking alternatives to Dogecoin, TG.Casino (TGC) is gaining attention. TGC is the token powering the Telegram casino project TG.Casino and is currently available for purchase at $0.1375. Investors can buy TGC using Ethereum (ETH), tether (USDT) stablecoin, or bankcards.
The presale of TGC has already exceeded $1.5 million and is approaching its $2.5 million target. The price of TGC will increase in a week, making now an opportune time to invest.
Hot Take: Dogecoin Continues to Lead Meme Coin Market
With a surge in price and growing investor optimism, Dogecoin is once again leading the meme coin market. Its breakout from a triangle pattern has sparked a bullish trend, with other meme coins also experiencing gains. While DOGE may be overbought according to technical indicators, the momentum remains strong, indicating further potential for growth.
For those looking for alternatives to Dogecoin, TG.Casino’s token (TGC) offers an opportunity to invest in a new and promising project. The presale has already seen significant interest, and the price of TGC is expected to increase in the near future.
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