Dogecoin price plunged 4% after this new Meme coin staking platform surpassed $1.8 million in pre-sale.

Dogecoin price has fallen 4% over the past 24 hours, trading at $0.1226 as of 3:10 AM EST, with trading volume down 40% to $877.3 million.

The world’s oldest and largest meme coin is still in the green above 14% on the 7-day chart, but its daily performance has seen its price drop significantly with its arrival on September 30.

Dogecoin price prediction

Dogecoin price appears to have found support at $0.122 and has remained slightly above that with the price mostly stabilizing over the past few hours. Technical indicators also suggest stability, but if the uptrend strengthens again in the past few hours, the price of the coin could surge.

Currently, Dogecoin’s Bollinger Bands have narrowed compared to the period of price decline. However, during the decline, price continued to push down the lower band, so while a contraction is not typically a bullish sign, the return of price to the midpoint between the upper and lower bands is a positive change.

At the same time, the relative strength index (RSI) value of this coin has also reached the neutral zone of 47.92 at the time of writing. Previously, the RSI value rose to 70, touching the overbought zone, but immediately plummeted to 20, deep in the oversold zone.

This means that traders reacted and took profits as soon as the RSI indicator reached the desired value of 70. RSI’s return to the neutral zone suggests stability, at least for the time being.

For the near-term future, the coin could see a recovery in the next few hours. This is because this usually follows a sharp decline like what DOGE has seen over the past 24 hours. However, for the time being, it is clear that Bitcoin’s influence will have a significant impact on DOGE, so meme coins will likely follow the lead of existing cryptocurrencies along with the rest of the market.

A promising alternative to Dogecoin

As the price of Dogecoin falls, investors may want to consider a new presale called Crypto All-Stars (STARS), which has raised over $1.8 million.

Crypto All-Stars is a staking-focused project and is revolutionizing things by inventing a new staking smart contract called MemeVault that allows users to stake major meme coins.

This will be a game-changing product for those with large meme coin investment portfolios as it eliminates the need to stake each coin in a separate smart contract.

MemeVault already supports Dogecoin, Pepe, Floki, Brett, Turbo and Milady Meme Coins, as well as Crypto All-Stars themselves and other features. The only problem is that you need to have stars to stake other meme coins.

ClayBro, a cryptocurrency YouTuber with over 130,000 subscribers, sees a “major bull market ahead” for cryptocurrency all-stars.

STARS tokens sell for $0.001471 and can be purchased with ETH, USDT, BNB, DOGE, FLOKI, SHIB, PEPE or bank cards. For the best deal, buy within 23 hours before the price increases.

Visit the official STARS website here.

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