5 Dogecoin Rivals That Could 10x By Q4
Release: 2024/08/23 23:34 Reading: 384
Dogecoin Rivals Set to Captivate Investors Amidst DOGE Correction
As Dogecoin's price endures a five-month downturn, its rivals are poised to attract investor attention. Despite recent market recovery, Dogecoin exhibits no clear bottom formation, suggesting the potential for further sell-offs.
Dogecoin Rivals
Shiba Inu (SHIB)
- Dubbed the "Dogecoin killer," SHIB currently trades at $0.000014 with a market cap of $8.39 billion.
- Amidst uncertainty, SHIB's price surged from $0.000013 to $0.0000143, registering a 10% gain.
- This rise is attributed to the crypto exchange Kraken's listing of SHIB, adding margin trading pairs against the Euro.
- Santiment analytics indicate increased accumulation by retail investors holding between 100,000 and 1,000,000 tokens.
Pepe Coin (PEPE)
- The meme coin showcased a notable bounce from $0.000006 to $0.0000008, registering a 17.6% rise.
- This upswing signals a new bull cycle within a falling wedge reversal pattern, indicating a potential breakout.
- Santiment's data shows a negative 30-day MVRV (Market Value to Realized Value) ratio, suggesting that short trades are experiencing losses.
- A breakout from the wedge pattern resistance at $0.000009 could accelerate buying momentum and drive a rally to $0.0000172.
Floki (FLOKI)
- Could gain traction amid the English Premier League partnership.
- Floki's token and Valhalla game will be featured on multiple EPL platforms.
- The price rose from $0.00011 to $0.000138 within a week, registering a 23.3% growth.
- Buyers aim for target levels of $0.00021 and $0.00035.
Dogwifhat (WIF)
- Bounced from $1.361 to $1.63, registering a 20% growth.
- This recovery signals the downtrend reaching maturity.
- Future open interest surged to $213.5 million, indicating increased investor interest.
- A breakout above $2 could lead to further rally to $2.85 and $4.
Bonk (BONK)
- Shows a broader bullish trend within a channel pattern.
- A recent reversal from bottom support has increased the price from $0.000017 to $0.000019, an 11.4% gain.
- OI-weighted funding rate surged to 0.066%, indicating increasing momentum in long positions.
- A breakout from the channel could drive the price to $0.000034 and $0.0000445.
Conclusion
Meme cryptocurrencies experience high volatility due to speculative trading. Dogecoin's prolonged correction presents opportunities for investors to explore alternative options. Dogecoin rivals like Shiba Inu, Floki, Pepe Coin, Dogwifhat, and Bonk offer potential aggressive rallies.
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