The Dogecoin Price Sees Moderate Correction
The Dogecoin price fell by 0.7%, currently trading at $0.079. Meanwhile, the trading volume increased by 88% to $1.038 billion. A false rumor on social media about a mascot of the coin allegedly passing away caused this drop, creating a stir in the crypto community. A screenshot of a Telegram conversation was shared on X, suggesting this.
Dogecoin Price Forms A Bullish Pennant Pattern
The Dogecoin price has moved up from the $0.05 support level towards the $0.106 resistance level. The formation of a bullish pennant has signaled a continuation of the bullish trend. The price remains above the 200-day SMA at $0.0725, supported by the golden cross at $0.0678. However, the Relative Strength Index (RSI) indicates significant selling pressure.
The Dogecoin Price: Bulls Prepare For A Bull Rally
The bullish pennant pattern predicts a potential price rise above $0.10. Moreover, there are expectations of the price reaching the $0.15 threshold this year. If the price continues to drop, it could fall below the 200-day SMA and reach the $0.061 support level.
SpongeV2 Crosses $4 Million, Aims For 100X Returns, Buy Fast
Sponge V2 has attracted over $4 million in staked and bridged tokens. The version aims to achieve a 100X return from its precursor. The price can be purchased and staked to receive a bonus in V2 tokens.
Justin Sun Fuels The Sponge Bullish Momentum
Justin Sun has been focusing on meme coins after expressing interest in trading promising projects, generating a positive momentum among investors and traders. This has resulted in Sun obtaining $SPONGE worth around $90k.
Get Sponge Now, Stake, Play to Earn
Engage in play-to-earn (P2E) free and premium versions using SPONGEV2 tokens to buy extra game credits. The tokens can be easily bought through the SpongeV2 website by connecting your digital wallet or by directly using your bank card.
Hot Take
As uncertainty looms over the Dogecoin community, investors are optimistic about SpongeV2’s potential. The asset promises huge returns, with a significant number of tokens already staked and valued at more than $3 million, providing a high APY.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.