Dogecoin Price Slides But Traders are Backing Dogeverse to See Big Gains
Release: 2024/04/25 18:09 Reading: 426
Dogecoin Price Slides, But Traders Back Dogeverse for Big Gains
Original Source: Coinpedia Fintech News
Dogecoin has faced challenges amidst a wider market downturn, experiencing a 7% decline. However, the newly launched multichain meme coin Dogeverse has remained resilient, recently surpassing $10 million in its presale.
Dogecoin Slides, But Trader Remains Bullish
Despite the recent retracement, a prominent trader, Ali Martinez (Ali Charts on X), maintains optimism about Dogecoin's long-term potential.
DOGE currently trades at $0.1498, down 7% today, up 0.5% this week, down 13.4% this month, and up 90% this year. It boasts a $21 billion market cap and a $1.4 billion 24-hour trading volume, up 27% today.
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Martinez highlights that Dogecoin is consolidating after breaking a macro trendline resistance level, a typical pattern following Dogecoin's previous breakouts.
"Dogecoin is showing its classic pattern once again!" he tweeted. "DOGE is currently consolidating after breaking out from a descending triangle."
"Based on past trends, we might see DOGE rocket towards $1 in the coming weeks."
Martinez's price chart overlay suggests that DOGE could reach highs of $5 during this cycle.
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In an earlier tweet, Martinez emphasized that Dogecoin "remains the most important altcoin" in the meme coin sector.
"From a technical perspective, DOGE seems to mirror the 2018-2021 pattern," he explained. "If so, DOGE could be at the very beginning of a massive parabolic bull run."
Martinez's analysis provides a positive outlook for Dogecoin, encouraging investors to anticipate an upcoming uptrend continuation.
Dogeverse: A Strong Alternative
While Dogecoin has faced challenges this month, the new meme coin Dogeverse has emerged as a promising alternative. Its presale has recently surpassed the $10 million mark.
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Media outlets and industry experts have rallied behind Dogeverse. Jacob Bury, a leading analyst, has predicted its potential for 100x growth.
Dogeverse's unique value proposition lies in being the first multichain Doge-themed cryptocurrency. It operates on six major blockchains, including Ethereum, Polygon, BSC, and Avalanche, with Solana integration forthcoming.
This multichain approach eliminates fragmentation and unifies communities under a single meme coin. It also enhances demand potential and mitigates risks associated with single-chain cryptos.
Interested buyers should act quickly as the Dogeverse presale price will increase in six hours or when the total raise reaches $11.2 million.
Visit Dogeverse Presale
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