Meme Index (MEMEX) Presale Closing In On The $4 Million Milestone

The Dogecoin price plunged 15% in the last week despite being up almost 2% in the last 24 hours to trade at $0.2116 as of 11:59 p.m. EST

The price of Dogecoin (CRYPTO: DOGE) has dropped 15% in the last week despite rising 2% in the last 24 hours to trade at $0.2116 as of 11:59 p.m. EST on Thursday on trading volume that increased 22% to $3.1 billion.

This comes as the DOGE price continues to experience massive selling pressure and bearish momentum. But can DOGE shake off bearish pressure and regain momentum?

Dogecoin Price Bearish – Potential Reversal Incoming?

The price of DOGE has been on a persistent downtrend, sliding from around $0.45 in early 2024 to the current level of $0.2116.

The chart shows a series of lower highs and lower lows, forming a well-defined descending wedge (dotted trendlines).

Recently, the Dogecoin price was consolidating within a sideways accumulation zone (highlighted in purple), ranging approximately between $0.23 and $0.25, according to GeckoTerminal data. This consolidation phase indicated indecision between buyers and sellers.

However, a breakdown from this range led to further selling pressure, causing the price to drop significantly.

Currently, DOGE seems to be attempting a minor recovery after touching a local low near $0.20. This small bounce suggests some buyers are stepping in, but the overall structure remains bearish unless key resistance levels are reclaimed.

The 50 Simple Moving Average (SMA) on the 4-hour chart at $0.2398 is moving below the 200 SMA at $0.2764. This alignment confirms a bearish crossover, often signaling continued downward momentum.

The price of Dogecoin is below both moving averages, reinforcing the bearish sentiment and suggesting resistance around these levels.

Meanwhile, the Relative Strength Index (RSI) stands at 32.37, closely approaching the oversold threshold (30).

This indicates that DOGE is nearing a potential short-term reversal zone, as extreme oversold levels often lead to a temporary price rebound.

DOGE Price Prediction

If the price of Dogecoin manages to reclaim $0.23 (previous support) and push above the 50-SMA ($0.2398), it could attempt a recovery towards $0.25. A breakout above $0.2764 (200-SMA) would indicate a trend reversal.

However, the downtrend remains intact, and if selling pressure continues, the price of DOGE could retest the $0.20 psychological level. A breakdown below $0.20 could see further declines toward $0.18 or lower.

As the price of DOGE aims for a rebound, investors are shifting focus to a new meme coin called Meme Index (MEMEX). According to 99Bitcoins, a prominent crypto channel on YouTube with over 725K subscribers, MEMEX has the potential to be the next 100x crypto.

Meme Index Presale Closing On The $4 Million Milestone

The Meme Index presale has raised over $3.8 million, quickly gaining attention in the meme coin sector.

Think of Meme Index as an ETF for meme coins. While most of these coins rely heavily on hype, Meme Index has a genuine use case.

The new project is creating the first on-chain meme coin index investing platform, offering crypto users a convenient way to gain diversified exposure to this sector.

The MEMEX token provides four diversified investment baskets: Meme Titan Index, Meme Moonshot Index, Meme Midcap Index, and Meme Frenzy Index. Each basket caters to different levels of risk appetite, ranging from the relatively safer Meme Titan, to Meme Frenzy, which includes emerging and highly volatile meme coins for those seeking high returns and are prepared to accept commensurately higher levels of risk.

GET READY TO MOON, DEGENS! Meme Coin Mania is BACK and better than ever! With Solana at the helm, my AI-powered $MEMEX is scanning the markets for the NEXT BIG THING! Stay glued for exclusive alpha, insights, and updates on the hottest meme coins!— Meme Coin Mania (@MemeCoinMania77) February 5, 2025

MEMEX holders can also participate in the project’s presale staking pool, which currently offers a substantial annual yield of 591%.

You can purchase MEMEX tokens on the official website for $0.0165556.

Learn more about Meme Index.