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Cryptocurrency News Articles
Dogecoin (DOGE) Meme Coin Back at the Top of the Priority List in an Altcoin Rebound Rally
Oct 19, 2024 at 02:00 am
The top dog meme coin, Dogecoin (DOGE), is back at the top of the priority list in an altcoin rebound rally, fetching over 10% gains in 24 hours.
Meme coin priority shifts daily, yet Dogecoin (CRYPTO: DOGE) remains at the top of the list with another 10% gain in 24 hours. The world's largest Proof of Work (PoW) blockchain, excluding Bitcoin (CRYPTO: BTC), recently hit a new monthly high of $0.1355 and is coming close to reexamining its three-month price milestone of $0.141.
Solana-based Dogwifhat (CRYPTO: WIF) tends to come out on top in daily and weekly gains on the meme charts. Smaller market cap meme coins like Popcat (CRYPTO: POPCAT) and Bonk (CRYPTO: BONK) are still outgrowing DOGE in 30-day profit, but Dogecoin is making up for it with a double-digit run on October 18, 2024.
$DOGE breakout & retrace ✅
0.2$ is the key level now for upward movement ! 📈#Doge pic.twitter.com/fc7wUKknyO
Now, the $0.20 price target for DOGE is the most realistic to determine the OG meme coin’s long-term direction, according to analyst and software engineer Whale Of City on X. As Dogecoin's price rapidly approaches the $0.137 resistance bubble, its resistance is spread out between two similar levels, according to IntoTheBlock.
Sponsored
From $0.137 to $0.1717, there are 504.57 Dogecoin wallets, amassing 10.46B DOGE tokens. If this resistance barrier is conquered, Dogecoin’s way upward will have to jump above a hurdle of 12.58B tokens, split between 750K addresses. Resistance levels typically encircle the most sensitive areas for traders attempting to break even or take profits.
DOGE continues to showcase an ultra-high price correlation with BTC, as the leading digital currency inked 10.5% gains to embark on a journey to $68K this week. As noted by many crypto analysts, Bitcoin’s road to a new all-time high would likely open up opportunities for an all-around altcoin season, including the leading meme niche.
On the Flipside
Why This Matters
The dynamics of the rapidly growing meme section can shift daily, but Dogecoin has proven utility beyond its meme coin status.
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