Dogecoin Price Prediction - Technical Analysis

Popular trader @CryptoTony__, who has close to 350k followers on X, highlighted that Doge closed the previous week above the key trend line. However, the meme coin failed to hold the support, thus failing to confirm a bullish breakout. Consequently, the Dogecoin price has depreciated 1% over the past day and is currently trading near the $0.069 price mark. 

Despite a 45% surge in its 24-hour trading volume, Doge has been unable to breach the $10 billion market cap. 

The DOGE/BTC trading pair is also retesting a crucial support at the $0.00000201 mark - while trader @rovercrc expected a strong bounce, it has not materialized thus far.

TradingView, a technical analysis platform, also highlights that Dogecoin’s short-term prospects are in the doldrums. While Doge receives a “Buy” signal in the weekly time frame, a sustainable bull rally would likely require the bulls to breach the 50-week Simple and Exponential Moving Averages, both of which are currently at the $0.074 level.

Dogecoin backers are hoping to receive a boost from Elon Musk at the critical juncture - they still believe that the top meme coin could be a part of Musk’s vision of X. However, in the absence of such an announcement, a Dogecoin bull rally would likely need Bitcoin to display another bullish surge. 

Michael van de Poppe of MN Trading still believes that Bitcoin will hit the $37k price mark in the coming days. However, this bullish price action will likely occur after the 1st November FOMC meeting, if the Federal Reserve decides to pause its monetary tightening. 

If de Poppe’s prediction holds, Dogecoin could mirror BTC’s bullish stance and break above the key trend line, resulting in a strong rally. 

Also see our recent Shiba Inu price prediction post for some $SHIB technical analysis.

New P2E Cryptocurrency Meme Kombat Nears $1 Million In Presale - Next Dogecoin?

While Dogecoin struggles to gain momentum, a new meme coin - Meme Kombat - has piqued the interest of investors. 

The token has displayed a strong performance in its presale, raising $900k in just over a month, having been highlighted early by Crypto Tony.

This year’s meme coin mania saw tokens based on popular fictional characters have remarkable success. Even Pepe’s 10,000% bull rally was fueled by the popularity of “Pepe The Frog” memes. 

However, Meme Kombat is taking this strategy to the next level, capitalizing on the popularity of 11 different fictional characters - each representing a meme coin such as Pepe, Floki, Doge and Shiba Inu. These characters will engage in exciting and unpredictable battles with the help of artificial intelligence, allowing players to bet on the outcome of the game. 

Similar to meme coins such as Floki (FLOKI) and Wall Street Memes (WSM), Meme Kombat will have its own stake-to-earn feature, which is currently offering an APY of 112%. $MK allows retail investors to generate passive income while also ensuring that the token does not suffer from any pump-and-dump price action. 

In a surprising move, the Meme Kombat project has revealed the identity of all its key team members, including the founder Matt Whiteman. This higher level of transparency allows investors to purchase the token without the fear of any scam or rug pull.

Thanks to its unique value proposition, experts such as Michael Wrubel, Oscar Ramos and Joe Parys have reviewed the token, with Parys including it in his list of best meme coins to buy. 

Visit Meme Kombat Presale

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