The Dogecoin price has dropped to $0.23 today, with the meme token suffering this fall on a difficult day for the crypto market as a whole.
DOGE is now down by 16% in a week, but it has also managed gains of 44% in a month and 80% in the past year.
And some analysts are asserting that the token is on the cusp of a big breakout, with trader Ali Martinez recently predicting that it could bounce towards $0.46+, having hit a double bottom.
The next few weeks could therefore be big for DOGE, and given its ongoing popularity and support, the long-term Dogecoin price prediction continues to look promising.
Dogecoin Price Prediction: Expert Crypto Analyst Predicts DOGE Could ‘Double’ in Just a Few Weeks – Bull Market Starting?
Posting on X, Ali Martinez suggested that if DOGE could reclaim “$0.26 as support,” then it would clear the ground for the aforementioned bounce to $0.46.
Martinez posted this on Friday, and it’s worth pointing out that the Dogecoin price has fallen quite decisively below $0.26.
As such, it’s not clear that it has reclaimed this level as its support, which in turn may invalidate Martinez’s prediction of a bounce towards $0.46.
If we look at DOGE’s chart today, it seems that the meme token could rebound again very soon.
Probably the key detail here is that the coin had broken out of a bullish pennant earlier this month, and that it remains well above the upper bound of this pennant.
In other words, it’s arguably still within a breakout, and despite today’s dip, it has the momentum to rebound over the course of the week.
Source: TradingViewIts RSI (yellow) remains above 50, while its MACD (orange, blue) is also sitting at a strongly positive level.
And while Dogecoin’s volume has subsided a little since last week, at $3.4 billion it’s currently just over 500% higher than where it was only a month ago.
The climate therefore remains favorable towards Dogecoin, which has witnessed a few large transfers in recent weeks, indicative of the increased demand.
The Dogecoin price could therefore return to $0.250 in the next few weeks, before reaching $0.30 by the end of August, and $0.40 by Q4.
Longer term, higher prices will depend on the overall growth of the market, as well as on pumps from big supporters such as Elon Musk.
Why TOKEN6900 Could Be the Next Big Meme Coin: Presale Raises $1.3 Million
For those traders who don’t buy the Dogecoin hype, there are other, newer meme coins available on the market right now, including several exciting presale tokens that have yet to list on exchanges.
One of these is TOKEN6900 ($T6900), an ERC-20 cryptocurrency which has now passed $1.3 million in its ongoing presale.
Following in the footsteps of the hugely successful SPX6900, TOKEN6900 is another meme coin that has adopted the stylings of the late 90s dot-com bubble.
Accordingly, its website is full of early Internet graphics and fonts, while its social media channels are aiming to attract attention via the use of surreal, edgy videos.
Unlike certain meme coins that aim to provide utility and fundamentals (e.g. Shiba Inu), TOKEN6900 is pitching itself as a complete and unadulterated meme token, resting on FOMO, marketing and community alone.
It’s making a point of not having any use case, and so far, this strategy appears to be working, judging by the growth of its presale.
While T6900 doesn’t have any utility, holders will be able to stake the token, something which should incentivize long-term holding.
Newcomers can buy it now by going to the TOKEN6900 website and connecting a compatible wallet, such as Best Wallet.
The token is currently selling for $0.00675, but this will rise in just under two days, so investors should act quickly.
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