The Dogecoin price rose 2% in the last 24 hours to trade at $0.106 as of 09:02 p.m. EST, despite trading volume falling 39% to $358 million.
The meme coin space has rebounded with a 1% surge in the last 24 hours to a $40 billion market capitalization, as the top three cryptos in this category, DOGE, SHIB, and PEPE registered gains.
According to Dogecoin metrics on IntoTheBlock , the market has turned bullish, as 73% of DOGE holders are currently in profit.
Dogecoin Price Prediction: DOGE Aims For A Continued Surge
On July 29, the Dogecoin price fell from $0.13 and reached the $0.081 support zone by Aug. 5. However, bears could not sustain the trend, as bulls took control of the price, propelling DOGE through a rising channel pattern.
DOGEUSDT Chart Analysis (Source: Tradingview.com)
DOGE price bulls aim to sustain a position within the bullish channel. The token’s price has now surpassed the 50-day Simple Moving Average (SMA). If the momentum continues, the price of Dogecoin might eventually overcome the immediate resistance at $0.117, coinciding with the 200-day SMA.
In the last week, the Relative Strength Index (RSI) has rebounded from below the 30-oversold level, and currently stands at 57. The RSI rising shows that investors are actively buying.
If the buying continues, DOGE could soar to breach the $0.117 resistance. Bulls could then target the next resistance at $0.13.
Conversely, if bears take control of the Dogecoin price, the meme coin might undergo a correction to the strong support around $0.095.
As Dogecoin trades in a bullish channel, a new meme coin by the name of PlayDoge (PLAY) is set to benefit from this trend, thanks to its play-to-earn (P2E) gameplay. This utility offers investors more than just a speculative trade opportunity, as is the case with many other meme coins.
According to 99Bitcoins, a prominent crypto channel on YouTube, $PLAY could surge 50X to 100X after its launch.
PlayDoge: A Worthy Alternative
PlayDoge is a mobile-based play-to-earn (P2E) game that transforms the DOGE meme into a Tamagotchi-style virtual pet. Users are able to earn $PLAY tokens by ensuring their digital companions get enough love, food and sleep.
Investors are also able to earn a passive income through PlayDoge’s staking option, allowing $PLAY token holders to easily lock up their tokens for 77% annual rewards.
The project has continued to gain traction in the crypto community, which is evident by its explosive ICO. PlayDoge has already raised over $6.0 million through its presale so far.
You can buy $PLAY tokens for $0.00528 each. With a price hike coming in less than three days, buy soon to lock in the best deal.
Buy $PLAY from the official website here using BNB, USDT, or a bank card .
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