The Dogecoin price has surged 174$ in a month, despite declining 3% in the last 24 hours, to trade at $0.3922 as of 2 a.m. EST on trading volume that dropped 8% to $8.96 billion.
Dogecoin Price Prediction
Dogecoin’s price spent the last 24 hours just underneath the resistance at $0.40, with small fluctuations, but ultimately on the road to recovery. Now that it finally reached this level, traders are quite interested in seeing whether it can actually breach it or if its price is about to see another rejection.
The project’s Bollinger bands have narrowed down considerably around 8 hours ago, and they remained narrow since then, but are now showing signs of a potential widening. This could be an early hint of a recovery and growth, especially given the fact that the price has fluctuated between the upper band and the middle point between the two bands.
With market optimism returning, the DOGE price could start pushing the upper band further up, and right now there are signs that this might be happening, which is a bullish signal.
Then, there is the coin’s Relative Strength Index (RSI) value, which has fluctuated between the neutral value of 50 and the value of 60, which is still in the neutral belt, but it allows the price to move toward the overbought zone, rather than the oversold one. This indicates that traders are optimistic, but still hesitant to commit too strongly to increasing the buying pressure.
Instead, they are making engaging in day trading, buying and selling based on price movement, but also not overselling the asset, which is also a subtle bullish signal.
This suggests that DOGE could see another price surge in the near future, as there is enough room for it to keep growing, and likely push past the resistance at $0.40, which is its largest barrier right now. Finally, with Bitcoin now trading in the green on hourly, daily, and weekly charts, this could spark a recovery that DOGE could use to make its surge back to above $0.40 in the hours to come.
However, there is still some market uncertainty when it comes to the altcoins, so a strong recovery might not yet be a certainty. As a result, traders should be cautious and do their own research before committing to any course of action.
Promising Alternative To Dogecoin
If you are uncertain about buying DOGE right now, consider going for a high-potential alternative such as Catslap (SLAP). This is a new meme coin that launched less than a week ago.
Catslap Token went parabolic after launch, before running into a market-wide correction. But it is now showing signs of a strong recovery, surging by more than 23% in the last 24 hours alone.
Catslap emerged as both a crypto project and a popular new slapping game that allows players — or slappers, as it calls them — to compete to earn the highest scores.
There is also a Slapometer, which is a type of leaderboard where players can increase their country’s slap score, and make it move up the board.
Catslap views itself as the most aggressive feline, but it is this aggression that will allow it to attack even the highest market cap meme coins, and challenge the dogs and frogs that dominate the meme coin sector. It is available on Uniswap, but you can also still buy its tokens on its own website.
The project also has attracted the attention of crypto experts and influencers such as Jacob Crypto Bury — a YouTuber with over 45.3k subscribers who believes it could be the next 100x meme coin.
In fact, he said in a recent video that the token could soon get listed on Binance, which would almost certainly cause its price to skyrocket beyond any past records.
Visit Catslap Token here.
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