Dogecoin Price Pumps 5% As Elon Musk Unveils X TV App To Rival YouTube, And Traders FOMO Buy This Multi-Chain Meme Coin With Time Running Ou...
Release: 2024/09/03 18:19 Reading: 245
Dogecoin Poised for Bullish Reversal as Musk's X TV App Debuts
The Dogecoin (DOGE) price surged 5% in the past 24 hours, trading at $0.0990 as of 9:02 p.m. EST. This upswing comes amidst an 8% decline in trading volume to $428 million.
The rally coincides with the official launch of Elon Musk's X TV app beta version, allowing users to access the platform directly from smart TVs. This move aligns with Musk's vision for X to become an "Everything App," potentially rivaling YouTube.
Dogecoin Price Analysis
DOGE has been trading within a downtrend, confined by a falling channel pattern. However, the bears' control around the $0.114 resistance level appears to be weakening.
The Relative Strength Index (RSI) has turned bullish, inching towards the 50-midline level (currently at 48). This signals increasing buying pressure.
Similarly, the Moving Average Convergence Divergence (MACD) is trending upward towards the neutral zone, indicating positive momentum for DOGE. The blue MACD line has crossed above the orange signal line, confirming a bullish crossover.
These technical indicators suggest that Dogecoin may face buying pressure in the coming days, potentially pushing prices towards the $0.1148 resistance zone. However, a downward reversal could find support around $0.093.
Base Dawgz: A Promising Meme Coin
Investors are also showing interest in Base Dawgz (DAWGZ), a meme coin built on the Base ecosystem. DAWGZ is set to launch on a decentralized exchange (DEX) on September 4.
According to YouTube crypto analyst ClayBro with over 130K subscribers, DAWGZ has the potential to yield substantial returns.
Base Dawgz Presale Success
Base Dawgz recently concluded its token presale, raising over $3.2 million. The project's native token, DAWGZ, will debut on a DEX on September 4 at 5 p.m. CET.
Base Dawgz offers a unique multi-chain experience, allowing users to interact seamlessly across Ethereum, Solana, Binance Smart Chain, and AVAX. The team intends to launch on Base Chain initially.
Staking DAWGZ tokens offers an impressive 710% annual yield (APY), with 20% of the token supply allocated for this purpose.
The project will also launch the "Be Social for Airdrop" campaign, rewarding users for engaging with their social media networks on X.
To participate in the presale before its launch tomorrow, tokens can be purchased now for $0.008582 on the official website using ETH, USDT, BUSD, or USDC.
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