As Doge Day approaches on April 20, excitement is building, potentially contributing to a surge in Dogecoin and other meme coins.
Dogecoin notably soared from $0.017 to $0.207 late last week, before a pullback today following Bitcoin’s dip. The Dogecoin price is still currently green over the past 7 days, outperforming BTC.
This relative strength is part of a broader meme coin resurgence, with Shiba Inu also up 4% in the past week despite a dip today.
Meme Coin Market Outlook
Doge Day anticipation boosts Dogecoin, alongside significant gains in other meme coins.
Degen, Toshi, Cheems, and HarryPotterObamaSonic10Inu report notable spikes in value.
Dogecoin’s potential growth faces challenges from inflation and rising competitors.
In this vibrant meme coin market, Degen (DEGEN) also climbed nearly 50% to $0.044, while Toshi surged about 60% in early April to $0.00069.
Dogecoin competitors
Cheems impressively jumped nearly 300% to $0.0039 in the same period. HarryPotterObamaSonic10Inu has also enjoyed a 26% increase in 24 hours and 40% over the week.
7 Year Dogecoin Price Cycle Theory
The “Cycle of 7 Years” theory posited by traders like @TATrader_Alan below suggests a rhythmic pattern in Dogecoin’s price movements, predicting substantial growth based on historical trends.
$Doge is running in the “Cycle of 7 years”🔥We can see a similar price action in the first half of the current cycle, compared to that of last cycle.When we were at $0.0007 in 2017, we never believed $Doge would spike to $0.003, $0.009 & $0.35T~O~D~A~Y~:We are at $0.22, we… pic.twitter.com/G2tcCNhX2y
— Trader Tardigrade (@TATrader_Alan) April 1, 2024
This theory draws parallels between past and current Dogecoin price history, highlighting a potential path for the DOGE price to pump to projected targets of $2, $9, and even $40.
However, despite this optimistic trajectory, Dogecoin faces inflationary pressures and stiff competition from newer meme coins that could influence its market performance.
As the crypto community anticipates Doge Day, this theory fuels discussions about Dogecoin’s future in a rapidly growing meme coin space.
Tesla’s Leadership Crisis: Investor Confidence Wanes Amid Musk’s Controversies
Tesla’s CEO Elon Musk agin faces criticism for his alleged “part-time” engagement with Tesla, leading to investor unrest and a noticeable dip in car sales, especially in the U.S. market.
Concerns are growing over Musk’s potential $56 billion compensation and his frequent political outbursts, detracting from Tesla’s primary mission.
Elon Musk’s leadership beginning to splinter Tesla loyalists as car sales drop: “He needs to focus and not be complaining or ranting about borders.” https://t.co/IfCQklYQwH
— FORTUNE (@FortuneMagazine) April 7, 2024
Shareholders have also questioned his focus as he champions projects like the Cybertruck and AI, sidelining affordable electric vehicle production.
Musk’s online antics have disrupted Tesla’s community feedback loop, posing risks to its leadership stability and strategic focus.
Musk’s political entanglements and controversial actions raise investor anxiety.
Tesla’s internal struggles could subtly influence the broader crypto market sentiment.
Despite Tesla’s issues, Dogecoin’s market position as a top meme coin may remain unaffected, though broader market perceptions could eventually influence its value.
Dogecoin Price Prediction
The Dogecoin price today is ranging around $0.18 – $0.19, with a 24-hour trading volume of over $2 billion. Ranking 8th in market capitalization, which stands at around $27 billion, Dogecoin’s circulating supply has reached approximately 144 billion coins.
Technical analysis reveals Dogecoin breaking past a critical price level of $0.19 late last week, hinting at a possible uptrend. If it closes this weekly candle above that level, we could see the DOGE price challenging higher price points at $0.23 and $0.25 to sweep last week’s highs.
Dogecoin Price Chart – Source: Tradingview
On the downside, if the Dogecoin price slips below $0.18, support may be found at $0.17, $0.15, and $0.13.
The Relative Strength Index (RSI), a tool used to gauge market momentum, stands at 63, indicating a generally positive sentiment among investors.
Additionally, the 50-day Exponential Moving Average (EMA), at $0.19, further suggests a bullish trend as long as Dogecoin remains above $0.19. In summary, Dogecoin’s market behavior appears optimistic above the $0.19 mark.
Dogecoin’s vibrant community can be seen on platforms like Reddit and Twitter, where discussions and support for this crypto continue to thrive.
Dogecoin20 Set to Launch: Last Chance for Early Investors Before Major Exchange Listing
With the meme coin frenzy reaching new heights in 2024, investors are eagerly anticipating the launch of Dogecoin20 (DOGE20). This new meme coin, nearing the end of its presale, offers investors an early entry into its market, currently valued at around $10 million, a stark contrast to Dogecoin’s $26.6 billion.
DOGE20, an ERC-20 token, aims to outshine its predecessors by introducing a limited supply and a rewarding staking mechanism, setting the stage for potential price appreciation.
Dogecoin20 will have its first exchange listing on Uniswap on April 20, coinciding with the well-celebrated Doge Day and shortly after the Bitcoin Halving.
Early investors have ten days to participate in the final presale round, with the token price currently $0.00022 per DOGE20.
Key Points:
Over $10M raised in the DOGE20 presale, with a significant buzz in the community.
DOGE20 aims for substantial market impact, leveraging Doge Day and Bitcoin Halving events.
DOGE20 has its exchange debut on April 20 on the world’s largest DEX, Uniswap
Related
New Meme Crypto ‘Dogecoin20’ Prepares for DOGE Day Launch After $10M Crypto Presale
Shiba Inu Price Prediction: SHIB Dips Over 4% – Where’s the Next Buying Level?
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