The Dogecoin price prediction has taken a serious blow today, with the meme token’s fall to $0.2643 marking a 7% decline in 24 hours.
This sudden drop comes after a positive couple of weeks for DOGE, which remains up by 14% in seven days and by 21% in a fortnight.
While DOGE has fallen along with other meme coins today, Dogecoin’s chart has moved into a hugely bullish position, where it’s about to test a key resistance level.
And with DOGE remaining one of the most popular meme tokens in the market, it could potentially end the year at new record highs.
Dogecoin Price Prediction: Chart Signals Explode – DOGE Targets $1 and Beyond
If we look at Dogecoin’s 1-day chart, we see that it’s getting very close to the $0.33 level, a price which it last hit at the end of January.
If it can clear this level, it could begin a climb to $0.466, its highest level within the past 12 months.
Source: TradingViewIts indicators would suggest, however, that more losses may be coming in the near term.
For instance, its relative strength index (yellow) has dropped from a high 75 on Saturday to just under 60 today, and this indicator may continue declining.
Something similar applies to the MACD (orange, blue), which also peaked over the weekend, and which is now losing steam.
Given that the Dogecoin price had risen to almost $0.30 on Saturday, it seems that some shorter term holders are already taking profits.
It’s clear that some whales had taken the opportunity to sell (some of) their holdings when DOGE rallied over the weekend, as per Whale Alert data.
However, once it has finished correcting today, the FOMC meeting that concludes on Wednesday could result in a long-awaited rate cut, which could send DOGE flying along with the wider market.
Many analysts are now bigging up Dogecoin’s prospects, with trader Ali Martinez recently suggesting that the token’s TD sequential indicator is flashing ‘buy.’
As such, we could see the Dogecoin price return to $0.33 by the end of the month, before returning to $0.40 by the end of October.
And if the under-review DOGE ETFs do gain approval later in the year, the token could even pass its current ATH of $0.7316, on its way to $1.
Maxi Doge Raises $2.2 Million in Accelerating Presale: Is This the Next Big Meme Coin?
For traders unsure about DOGE, there are newer alternatives to consider, some of which are showing the potential to outperform the market in the coming weeks.
One of these is Maxi Doge ($MAXI), a new ERC-20 token that’s currently attracting investors to its presale.
It has raised $2.2 million in its sale, which it opened last month, and it’s likely that this total will rise considerably before the sale closes.
What’s interesting about Maxi Doge is that it’s more than another Dogecoin-themed meme token, in that it’s also a crypto-trading community.
In particular, it will use its Discord and Telegram channels as a venue for its holders and followers, who will be able to compete in trading contests and competitions.
Winners of these contests will earn rewards in MAXI, incentivizing greater involvement in the coin and its ecosystem.
On top of this, Maxi Doge will also make use of a Maxi Fund, which will be equal to 25% of its total supply of 150.24 billion MAXI.
It will use this fund to finance partnerships and promotions, helping to spread awareness of the coin and boost its price.
Investors can buy it now by going to the Maxi Doge website, where MAXI currently costs $0.0002575.
This price will rise in just under three days, and it will continue to rise until the sale ends, so new buyers should act quickly.
Visit the Official Website Here
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