Dogecoin is currently around $0.10, facing resistance at the critical $0.11 level. Despite an increase in transaction numbers recently, it hasn’t been able to break through this barrier.
Many retail investors are exercising caution and taking a wait-and-see approach. However, as retail interest begins to grow, significant price movement for Dogecoin could occur.
While Dogecoin watches the market for direction, $PEPU presents itself as a strong alternative, reaching new presale heights fueled by growing whale interest.
Dogecoin (DOGE) price analysis and price prediction
As of today, Dogecoin’s market cap stands at approximately $15.2 billion, though recent trading volumes have seen a 23% decline after a brief surge. The cryptocurrency has been gradually retracing to price levels observed prior to its significant December rally.
A key support zone has been tested multiple times, underscoring its importance for Dogecoin’s future price movements. After a recent upward rally, Dogecoin is now approaching a critical resistance level around $0.1088.
This resistance has not been tested since July, and in past encounters, Dogecoin faced dramatic drops of up to 40%. However, current projections suggest that if resistance is met this time, the correction may be more moderate—around 8%, based on historical price patterns.
Dogecoin’s upcoming price action is likely to follow one of two scenarios. If a breakout occurs, the price could sharply rise, testing the $0.1088 resistance and moving toward the 0.236 Fibonacci retracement level.
Following an 8% correction, Dogecoin may regain momentum and reattempt to break this resistance, potentially leading to a 50% price rally.
In a more bearish scenario, Dogecoin may face rejection at the breakout zone, leading to a downward correction toward previously identified buy zones, which have held strong as support in the past.
Long-term, Dogecoin’s potential remains intact, with the possibility of soaring to around $0.16—a nearly 2x return from current levels.
If a broader bull market takes hold, the asset could even aim for previous all-time highs, offering over 120% returns for patient investors. If you’re looking for investment opportunities that could offer big returns and increase in value during the next bull run, check out our guide here for the best crypto presales of 2024.
$PEPU: The alternative meme coin gaining momentum with whale backing
While Dogecoin remains cautious in the current market, $PEPU is poised for a potential 100x surge upon launch. Pepe Unchained has already surpassed $14 million in its presale and is making headlines due to significant whale activity.
Pepe Unchained is a Layer-2 network designed for meme coins, expected to be 100 times faster than Ethereum and featuring a dedicated block explorer. This blockchain explorer, similar to Etherscan and Solscan, will enhance transparency and accessibility within the network.
Whales are making notable investments in this token, with reports showing one whale putting in $25,000 (approximately 10.8 Ethereum) and another investing $56,000 (around 23.4 Ethereum).
As the presale continues, there’s growing excitement that more whales will enter the market, potentially boosting the project’s market cap even further.
For those interested, $PEPU tokens are available in the presale for $0.00982 each and can be purchased using ETH, USDT, BNB, or credit/debit cards.
After the presale, Pepe Unchained will be listed on a decentralized exchange, where its price will be driven by market forces. The smart contract has been fully audited with no critical issues found, which has added to the excitement surrounding the project.
We’re making rapid progress on the $PEPU token raise and Layer 2 Mainnet launch!
The Pepe Unchained developers have built something special, and we can’t wait to roll it out to the public. pic.twitter.com/NMDQ1ZRnmN
— Pepe Unchained (@pepe_unchained) September 18, 2024
As developers create innovative dApps or tokens with a Pepe theme, $PEPU has the potential to dominate the meme coin space.
Additionally, the “Frens With Benefits” initiative will provide grants to developers building on the new chain, with applications opening in Q4 2024.
Stay updated on the latest developments by joining the Pepe Unchained community on X and Telegram. To participate in the $PEPU token presale, go to pepeunchained.com.
Related
- Cardano’s Trading Volume Falls as Pepe Unchained Hits $13 Million in Presale – Could $PEPU Be the Bullish Alternative to Watch?
- PeiPei Price Is Pumping Again – Is It a Good Time to Invest, or Pepe Unchained a Better Alternative?
The post Could a Breakout Trigger Huge Gains for $DOGE, or Could Pepe Unchained Spark the Next Big Rally? appeared first on ReadWrite.
