Dogecoin Price Drops as Market Slumps
The price of Dogecoin has fallen by 3% today, reaching $0.07756, in line with a small 0.2% loss across the wider crypto market in the last 24 hours.
Over the past two weeks, DOGE has dropped by 9%, and over the past month, it has fallen by 16%. This is disappointing compared to other major tokens that have seen double-digit growth over the last year.
However, this underperformance could make DOGE an attractive investment opportunity, as it is currently undervalued and has the potential for significant gains in the future.
Dogecoin Price Prediction: More Losses Expected
Looking at DOGE’s chart, it appears that the coin is about halfway through a slump and may experience further losses before stabilizing. The RSI has dropped to almost 40 from 60 a week ago and 80 in mid-December.
The 30-day average continues to decline towards the 200-day average, indicating potential further losses in the next one or two weeks. DOGE’s volume has also decreased significantly.
It remains to be seen if DOGE can hold its current support level and prevent a drop below $0.07750. A breach of this support could indicate a more significant downturn.
DOGE’s Disappointing Performance Makes It Attractive
Despite its recent poor performance, DOGE remains in the public eye and continues to attract attention. The tweet from DOGE founder Billy Markus drew strong responses from the Dogecoin community and Crypto Twitter.
The possibility of DOGE payments on X (formerly Twitter) still exists, especially with X introducing a dedicated account for its upcoming X Payments feature.
Considering these factors, DOGE’s price could recover in the next few months and potentially reach $0.1 by spring.
Alternative Meme Tokens with High Potential
Traders who want to explore other options besides DOGE can consider newer, smaller cap meme tokens. One such token is Meme Kombat (MK), which has raised $7.4 million in its ongoing presale.
Meme Kombat is not just a meme token but also a social gambling platform that allows users to bet on AI-generated battles between meme characters. The use of AI and blockchain technology ensures transparency and fairness in the outcomes.
The MK token is at the center of this platform, used for betting and staking. Early investors can purchase MK at a final presale price of $0.279 per token on the official Meme Kombat website.
Once the presale reaches its hard cap of $10 million, MK will be listed on exchanges, potentially providing profits for early investors.
Hot Take: Dogecoin’s Future Potential
Despite recent losses, DOGE’s underperformance may make it an attractive investment opportunity due to its current undervaluation. With continued attention from the public and the potential for DOGE payments on platforms like X, there is a possibility of a price recovery in the coming months.
Additionally, exploring alternative meme tokens like Meme Kombat can provide traders with new opportunities and potential profits. The ongoing presale of MK has already raised significant funds, indicating high interest in this token.
Investors can consider diversifying their portfolios by exploring these alternative meme tokens while keeping an eye on DOGE’s future developments.
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