GameStop Price Plunges 25% As Investors Pivot To This Chain-Hopping Dogecoin Derivative For Parabolic Gains
Release: 2024/05/21 16:49 Reading: 287
GameStop Price Plummets, Investors Pivot to Dogeverse
The price of GameStop has plummeted 25% in the last 24 hours, trading at $0.02139 as of 02:48 a.m. EST. Trading volume has plunged nearly 10% as the GME mania that erupted last week after the re-emergence of Roaring Kitty continues to fade.
GameStop Price Prediction
While the general outlook for the GameStop price is bearish, lower timeframes point to a growing bullish trend. This is seen with the Relative Strength Index (RSI) holding above the mean level of 50.
However, for the uptrend to continue, the RSI must record a higher high. Meanwhile, the market continues to favor the downside, with the GameStop price holding below the 50% Fibonacci placeholder of $0.03470.
As shown in the chart below for the GME/USD trading pair, the GameStop price is barely holding above the 23.6% Fibonacci retracement level of $0.02074. With the RSI deviating to the south, indicating falling momentum, the GME price could drop.
If the 23.6% Fibonacci retracement level fails to hold as a support floor, the price could roll over, potentially reaching depths of $0.00827. The Moving Average Convergence Divergence (MACD) histograms are also paling out, a sign that the previous bullish sentiment is fading.
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On the other hand, if the bulls show resolve and hold the RSI above the 50 mean level, a higher high on this momentum indicator could facilitate an uptrend. Notably, the MACD continues to hold above the orange band of its signal line, suggesting the bulls are still present. The position of the RSI above the mean level of 50 adds credence to this supposition.
Traders looking to take long positions on GME should wait for the GameStop price to record a stable candlestick close above the 50% Fibonacci placeholder of $0.03470. For more conservative traders, a candlestick close above the most critical Fibonacci retracement level of 61.8% would be a better entry. This translates to a decisive break and close above $0.04094 in the four-hour timeframe.
Promising Alternative to GameStop: Dogeverse
Dogeverse (DOGEVERSE), the world's first chain-hopping Dogecoin derivative, continues to gain attention as a presale gem in the crypto space. The project has successfully amassed over $15 million in funds raised and is offering investors a last chance to buy before launch.
Dogeverse allows users to buy and trade on various blockchains, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Coinbase, and Solana.
This unique approach provides users with enhanced flexibility, enabling seamless token transfers across networks and minimizing transaction fees. Moreover, by existing on multiple blockchains, Dogeverse gains exposure to diverse ecosystems, providing access to a broader user base and unlocking unique functionalities inherent to each blockchain.
The project's mascot, Cosmo the Doge, has the ability to hyperjump between crypto networks, giving Dogeverse the ability to move across chains and making the token widely accessible within the crypto realm.
Users can earn passively through the platform's staking system, with an impressive annual percentage yield (APY) of 53%. Each DOGEVERSE token is priced at $0.00031. Interested investors are advised to buy soon before the imminent launch.
Also Read:
- [How to Buy Dogeverse – $DOGEVERSE Presale Review](https://thebittimes.com/how-to-buy-dogeverse-dogeverse-presale-review-tbt89086.html)
- [Best Metaverse Crypto Projects: Top Picks for NFT and Virtual World Enthusiasts](https://thebittimes.com/best-metaverse-crypto-projects-top-picks-for-nft-and-virtual-world-enthusiasts-tbt89085.html)
- [Top 5 Meme Coins to Diversify Your Portfolio for Potential Gains – $DOGEVERSE, $DOGE20, $SHIB, $PEPE, and $FLOKI](https://thebittimes.com/top-5-meme-coins-to-diversify-your-portfolio-for-potential-gains-dogeverse-doge20-shib-pepe-and-floki-tbt89084.html)
- [Zach Humphries Honest Insights on Dogeverse – The Newest Multi-Chain Dog Meme Coin](https://thebittimes.com/zach-humphries-honest-insights-on-dogeverse-the-newest-multi-chain-dog-meme-coin-tbt89082.html)
Source: https://thebittimes.com/gamestop-price-plunges-25-as-investors-pivot-to-this-chain-hopping-dogecoin-derivative-for-parabolic-gains-tbt89083.html
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