Dogecoin Price Prediction: DOGE Pumps 4% As This New SHIB P2E Meme Coin Blasts Past $500k
Release: 2024/07/08 22:24 Reading: 895
Dogecoin Price Soars Amidst Resurgence
Over the past 24 hours, Dogecoin (DOGE) experienced a remarkable surge, gaining 4% in value. As of 4.50 a.m. EST, it trades at $0.1089 with a noteworthy 14% increase in trading volume, reaching $846 million.
This recovery follows a similar upward trend observed over the weekend, offsetting a steep decline witnessed last week. Notably, DOGE's official X account recently highlighted an article demonstrating its practical applications as a medium of exchange for everyday individuals.
Dogecoin's Purpose and Price Prediction
DOGE's primary objective, as stated by the project, lies in being a straightforward means of exchange, rather than a speculative investment tool.
Following a price drop last week, DOGE exhibited a robust recovery on Friday, reaching $0.114 by Saturday's end. However, a subsequent downward correction lowered it to $0.10 within 24 hours. On Monday, July 8, an additional surge initiated in the early hours.
Currently, DOGE's technical indicators suggest positive performance, encouraging traders to participate in the bullish rally. Nonetheless, all sharp surges tend to lose momentum, potentially in the near future.
The coin's Bollinger bands have expanded significantly, with the price consistently pushing the upper band higher.
Alternative Investment Options to Dogecoin
Given the potential for another correction, investing in DOGE at this stage carries a degree of risk. However, there are alternatives for those seeking a safer approach, such as the latest high-potential meme coin ICO in the sector: Shiba Shootout (SHIBASHOOT).
Launched its presale last week, Shiba Shootout is a newly established project still in its early stages. Despite this, it has garnered over $570k in investment.
As its name indicates, SHIBASHOOT is a dog-based meme coin developed for Ethereum and Binance Smart Chain, combining the Doge meme with a Wild West theme.
With characters like Marshal Shiba and Shiba Sharpshooters, as well as a digital settlement called Shiba Gulch, the project aims to introduce innovative utility features, including staking.
SHIBASHOOT has captured the attention of popular crypto YouTuber ClayBro, who boasts over 130k subscribers and anticipates substantial returns after launch.
Currently, SHIBASHOOT tokens are priced at $0.0195 each, a promotional offer that will expire in approximately six days. Purchases can be made using ETH, BNB, USDT, or credit/debit cards.
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