Dogecoin Price Prediction: DOGE Plunges 9% As Analysts Say They Consider This Competitor With 588% APY That Could Be 100X.

adminMarch 7, 2024

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Dogecoin’s price has plummeted 9% over the past 24 hours to trade at $0.1683 as of 7 a.m. ET, while trading volume has surged 6.6% to $8.7 billion.

Dogecoin Price Surges Above Consolidated Channel

Dogepin price

DOGEUSDT Analysis by Tradingview

Dogecoin price bounced from the $0.0737 support area and then broke out of the consolidation channel. This support zone promoted bullish momentum and pushed prices higher.

Despite a brief rejection against the resistance at $0.2075, the bulls seem resilient to continue the upward trend, using the support level at $0.1455 to push the price back up, with new highs expected in the coming weeks.

The uptrend has pushed the price above the 50-day and 200-day simple moving average (SMA), which currently supports $0.0841. The moving average crossover at the $0.0675 level confirms the overall bullish outlook.

Despite the general uptrend, the Relative Strength Index (RSI) indicates a correction at 70, which is in overbought territory. A bounce from this level could trigger another bullish surge, indicating strong buying pressure on the Dogecoin price.

Dogecoin price may surpass $0.2075.

The Dogecoin price uptrend aims to push the price higher with support from SMA and RSI. Increasing momentum could push the price above $0.2075 and reach new highs in the coming weeks.

Conversely, if RSI falls below the overbought zone, a potential price correction may be identified. This could encourage the bears to take control and push the price lower, causing the bulls to retreat to the $0.1093 support zone, which coincides with the upper border of the channel.

As DOGE price falls, investors may want to consider meme coins with better upside potential. One such prospect is Sponge V2. Analysts say it could soar as much as 100 times after launch, just as its predecessor, Sponge V1, did during last year’s bear market.

A promising alternative for 100x returns

Investors who missed out on their opportunity with SPONGE last year now have a second chance with the launch of the latest version of the meme coin. Sponge V2.

I missed you #SpongeV2 And, what about? 🧽︎
your $sponge today! 🚀#memecoin #web3 #AltSeason #Cryptocurrency pic.twitter.com/1mkn5zjEvA
— $SPONGE (@spongeoneth) March 4, 2024

Play-to-Earn for Passive Income

The SPONGE team plans to leverage the token’s previous performance by implementing various modifications to the viral meme coin ecosystem.

In addition to preparing several top exchange listings, SpongeV2 also offers play-to-profit racing games that are available in both paid and free versions.

🧽 Ride it $sponge tide! 🌊LFG 🚀#memecoin #AltGem #Cryptocurrency #100x pic.twitter.com/2PkqBon0tF
— $SPONGE (@spongeoneth) March 6, 2024

Users will have the opportunity to use SpongeV2 tokens as credits for in-game assets and activities, while also earning rewards paid in tokens.

More passive income through staking

Investors can earn tokens by staking $SPONGE, and token holders are currently enjoying Annual Percentage Yields (APY) of up to 182% on Ethereum and 588% on Polygon.

📣 Caution, #Sponger!
Here is some important information to remember: $sponge V2!$sponge V1 has been officially discontinued and V2 has been released. #polygon! 🔥
Learn more about token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024

With over 8.8 billion tokens staked, analyst and cryptocurrency YouTuber Jacob Bury considers SpongeV2 to be one of the best meme coins you can invest in right now.