Dogecoin Price Prediction: DOGE Soars 24% on Dogecoin ETF Speculation, But Experts Say This Dog-Themed Competitor Could Be the Next Cryptocurrency to Explode.

adminMarch 4, 2024

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Dogecoin price surged 24% to $0.1616 as of 5:10 a.m. ET, with trading volume surging 85%.

DOGE, the Bitcoin of meme coins, is taking its cue from BTC, with the two tokens sharing an 87% correlation.

BTC Doji

Dogecoin creator Billy Markus confirmed this relationship. He supports the fact that due to Bitcoin’s dominance, its movements could signal a surge in altcoin prices. Markus believes that Bitcoin traditionally sets the pace of market trends.

Dogecoin creator (DOGE) reveals correlation between Bitcoin price and altcoins. Dogecoin creator Billy Markus recently provided an insightful perspective on the relationship between Bitcoin price movements and the subsequent actions of altcoins. He shared his views on…
— Sol Fabian (@SoleFabian49188) March 4, 2024

One trader and analyst at

These meme coin pumps and the “old” coin pumps are bringing a lot of retail back into the market.
This is clearly bullish on the price front overall.
But it is also reflexive.
Price rise > retail comeback > retail Buy “old” coins that have been pumped past bulls/meme coins, etc.
Take notes.
— Miles Deutscher (@milesdeutscher) March 4, 2024

Meanwhile, there is also incredible speculation about the DOGE Exchange Traded Fund (ETF), a story that continues to subtly drive up the price of the token. Citing recent regulatory developments, cryptocurrency enthusiast Andrew Kang sees the odds of a DOGE ETF launching as greater than 30%.

In the meantime, Securities and Exchange Commission Chairman Gary Gensler may have other ideas.

Rep. Kang also acknowledged the possibility that could occur if a Republican administration is launched in the 2024 U.S. election.

I took the last chance $DOGE ETFs over 30%. With recent regulatory developments, anything is possible. Trump wins the presidency and Doge becomes the most decentralized alternative.
Everyone is talking about ETH ETF trading, but no one is talking about ETH ETF trading. $DOGE ETF trading pic.twitter.com/8ujjRyty4d
— Andrew Kang (@Rewkang) March 4, 2024

Considering that DOGE is the most decentralized altcoin, Kang’s opinion is that the Dogecoin price could benefit the most.

Dogecoin price prediction based on DOGE ETF speculation

Dogecoin price hit an intraday high of $0.1718 on Monday before falling quickly. However, the upside potential remains strong and there is a good chance that the leading meme coins will regain their local highs. With technical indicators finding support, upside is likely.

The Relative Strength Index (RSI) heading sharply north is a sign of rising momentum. Despite its position above 70, DOGE is not yet ripe for selling as momentum indicators continue to hit higher highs.

The breakout puts Dogecoin price well above the support provided by the rising trendline and maintains an upward trend as DOGE targets the $0.1800 psychological level.

The bulls are also holding steady and firm in their positions in the DOGE market. This is indicated by increasing green histogram bars in the positive region for Moving Average Convergence Divergence (MACD) and Awesome Oscillator (AO). As buying pressure increases, the largest meme coins by market capitalization could regain their all-time highs, with the potential to hit a higher range.

Dogecoin

TradingView: DOGE/USDT 1-day chart

converse case

But on the other hand, Dogecoin price is at high risk of correction, as can be seen from the RSI position of 91. Investors looking to open a new DOGE long position should probably exercise caution and avoid missing out (FOMO).

If bears take over the market, the Dogecoin price will likely correct quickly and lose all ground as the stock opens. A close below $0.1341 would threaten the intermediate trend, but the bullish outlook would only be nullified if the candle closed below the 50% Fibonacci retracement level of $0.1127.

Meanwhile, investors looking for a meme coin that isn’t FOMO-centric might want to consider Scotty the AI, a dog-themed meme coin that combines the concept of AI. It could be the next meme coin to explode, with YouTube cryptocurrency analyst Jacob Bury predicting a potential 10-fold surge in listings.

A promising alternative to Dogecoin

Emerging as the guardian of the digital realm, Scotty AI boasts unparalleled insight into the inner workings of blockchain technology. He stays up to date on blockchain and cryptocurrency developments through advanced AI systems.

As AI and cryptocurrency become increasingly involved, investors look to Scotty AI (SCOTTY) for future gains.
🚨Join the pre-sale at https://t.co/zRmy4g8hfW https://t.co/3LfNjV8NJz
— Scotty The Ai (@ScottyThe_Ai) February 13, 2024

Scotty’s specialty is his ability to easily analyze complex algorithms and code to find patterns and anomalies that even the most experienced programmers would miss.

It is rated as one of the best upcoming cryptocurrencies and is currently in its 10th public sale phase where each Scotty AI token is selling for $0.0068. So far, pre-sale sales have reached $1.867 million, putting us on track to reach our goal of $1.972 million.

Can Scotty the AI help crypto-based AI technology go mainstream? Investors Think So https://t.co/wPlPeXEyGI
— Scotty The Ai (@ScottyThe_Ai) February 18, 2024

The project also has a staking feature. Scotty AI token rewards will be distributed to users at a rate of 82.5 $SCOTTY per ETH block. Rewards are paid out over three years and are determined by your stake in your personal staking pool and your annual returns. Staking rewards reach up to 81% per year, with over 160 million tokens already staked.

scotty steak

Investors can purchase tokens using Ethereum (ETH), Tether (USDT) or bank cards.

Tier 4 pricing only lasts for about 9 days, so don’t miss out. With pre-sale tokens selling quickly, investors are already predicting that this AI cryptocurrency will soon enter the mainstream.

Visit AI Scotty here to purchase.