Meme Index (MEMEX) Price Nears A Major Resistance Level As Investors Start To Accumulate The Crypto

The Dogecoin price climbed over 4% in the last 24 hours to trade at $0.1712 as of 9:40 p.m. EST as investors start to accumulate the crypto.

The price of Dogecoin (CRYPTO: DOGE) is up over 4% in the last 24 hours as the crypto trades at $0.1712 at the time of writing.

The price of the world’s largest meme coin is down more than 16% on the weekly time frame.

Dogecoin Price Nearing A Major Resistance Level

The price of Dogecoin has bounced off of a key support level at $0.1454 and is now approaching a major resistance level at $0.1771, according to data from GeckoTerminal.

If the price of Dogecoin can break through this technical barrier then it could continue to rise to as high as $0.2088 in the short term.

However, a sudden selloff due to profit taking or a change in trend might invalidate the bullish thesis. In this alternative scenario, the price of Dogecoin will likely test the $0.1454 support again.

A drop below this mark might then expose DOGE to the risk of plunging to $0.1229.

Technicals Suggest The Dogecoin Price Might Keep Climbing

From a technical perspective, indicators on the 4-hour chart of DOGE/USD suggest that the meme coin might continue to climb in the next few hours. Both the MACD and the RSI are showing bullish signs.

The RSI readings have recovered from deep oversold territory below 30 to just below 50. Although the current value is still slightly bearish, the positive slope of the RSI line suggests that buyers might soon take complete control of the Dogecoin price.

Meanwhile, momentum favors bulls, as signaled by the MACD line’s positioning above the MACD Signal line. With the gap between the two technical indicators widening, it appears that DOGE’s bullish momentum is increasing.

This, combined with the climbing RSI, could be followed by a continued rise in the Dogecoin price as investors capitalize on the opportunity.

As the price of Dogecoin tries to overcome resistance, investors are FOMO buying a new meme coin called Meme Index (MEMEX) before its presale ends, as experts anticipate great things for the project.

Among them is 99Bitcoins, a prominent YouTube channel with over 725K subscribers, who says MEMEX could become the next 100X crypto.

Giving Investors An Innovative Way To Buy Into Meme Coins

The meme coin market has become saturated, mainly due to developers who tried to profit from the hype around these tokens in the last few months.

With so many options in the market, and new tokens entering the meme coin space on a daily basis, finding the next meme coin gem has become nearly impossible.

Meme Index aims to make meme coin investing simple and safe again. To achieve this, the project introduces 4 investment baskets or indexes. They are Meme Titan, Moonshot, Midcap, and Meme Frenzy.

Each of Meme Index’s baskets features a different set of meme coins, and each of the investment vehicles comes with different levels of risk.

The safest option is the Meme Titan index that focuses on established meme coins like Dogecoin and Shiba Inu (CRYPTO: SHIB), while the highest-risk Meme Frenzy focuses on new coins with high upside potential but that are extremely volatile.

By simply buying and holding MEMEX tokens, investors will unlock access to the project’s indexes, forging a diversified meme coin portfolio. In addition, MEMEX holders will also get to participate in Meme Index’s governance to decide which tokens get added to each basket.

Meme Index Presale Gives Investors Last Chace To Buy Before Launch – 18 Days Left

Meme Index has already raised over $3.99 million through its presale, signaling the strong confidence investors have in the project’s future.

With just 18 days left until the ICO ends, time is running out for investors to position themselves ahead of the project’s highly-anticipated launch.

Interested investors can still buy MEMEX through the buy widget on the project’s website using either ETH, USDT, BNB or bank card, with the token currently priced at $0.0166883.

After purchasing some MEMEX, investors can put their tokens to work from the get-go by locking them up through the staking page on the website. Anyone who buys and stakes MEMEX now will unlock access to a 571% APY.