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Cryptocurrency News Articles
RCO Finance (RCOF) vs. Dogecoin (DOGE) – Which Token Will Hit $1 First?
Oct 11, 2024 at 10:00 am
Analysts have identified similar bullish patterns in Dogecoin (DOGE) and RCO Finance (RCOF), sparking speculation about which token will hit $1 first.
Dogecoin (DOGE) and RCO Finance (RCOF) are two cryptocurrencies that have been attracting a lot of attention lately. Both tokens are showing signs of strength, and analysts are speculating on which one will hit $1 first.
While DOGE is a memecoin with a large following, RCOF is a token that is used to access the services of the RCO Finance platform. RCO Finance is an AI-driven investment platform that provides users with access to a variety of financial products and services.
Let’s take a closer look at both tokens and see why analysts are favoring RCOF (RCOF) to hit $1 before Dogecoin (DOGE).
DOGE Price Analysis: Memecoin Primed for 200% Breakout Before Hitting $1
Dogecoin (DOGE) price بالاخره began showing signs of life after months of dull price action and minimal trader interest. As the memecoin recovers from a crucial support level on the DOGE/USD four-hour chart, it might experience a breakout from a descending triangle pattern.
After forming a descending triangle on the four-hour chart, Dogecoin price finally showed signs of breaking out in mid-October as it trades at $0.10, reflecting a 10% price increase over the past month.
This breakout could see DOGE price hit $1 before the end of 2023, but the memecoin will need to rally by 900% from current levels to reach the round-figure price target.
DOGE price dropped to a four-month low on September 13 at $0.08 before showing signs of recovery. The memecoin encountered strong buying pressure at this crucial support level.
If DOGE price manages to break out of the descending triangle pattern, it will be preparing for the last leg of a 200% price rally. Notably, the breakout from this pattern will be accompanied by a massive surge in buying pressure.
Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show bullish momentum building up. The RSI forms higher lows and is currently trading above 50, indicating that buyers are in control. At the same time, the MACD line (blue) is above the signal line (orange), and both lines are above 0, further confirming the bullish momentum.
DOGE Price to Hit $1 Before 2023, Prepare for a 200% Breakout
DOGE price dropped below a crucial support level in August, forming a lower low and signaling that the memecoin’s bullish momentum is fading. However, DOGE price managed to recover from this support level and formed a double bottom pattern on the four-hour chart.
This double bottom pattern breakout saw DOGE price rally by 16% before encountering resistance at $0.10. If buying pressure builds up and pushes DOGE price above this resistance level, we can expect another leg of the 200% price rally.
DOGE price needs to rally by 900% from current levels to reach $1, and if the memecoin manages to break out of the descending triangle pattern on the four-hour chart, it will be positioned for a strong rally towards the round-figure price target before the end of 2023.
Keep an eye on RCO Finance (RCOF) Presale for 1000x Gains, as SolidProof Certifies the Project
Web3 investment platform RCO Finance (RCOF) has shown impressive performance during its presale stage 2, attracting investors with its unique features and promising benefits. As the presale advances, only 32 million RCOF tokens remain unsold at stage 2.
Priced at $0.034, RCOF tokens are available for purchase in limited quantities. Following stage 2, the token price will increase by 62% to $0.055 in stage 3. This price adjustment offers early investors an immediate profit potential of up to 1000x, making RCOF an attractive investment opportunity.
Investors seeking to diversify their portfolios and gain exposure to promising projects should consider joining the RCO Finance community on Telegram for the latest updates and firsthand information on the presale.
Moreover, the platform has raised $2.88 million from the presale, which will be utilized for further development and marketing initiatives. To ensure the ecosystem’s long-term health, any unsold tokens will be burned, increasing scarcity and driving up demand among investors.
SolidProof, a renowned blockchain security firm, has conducted a thorough security audit of RCO Finance, further instilling investor confidence in the platform. As the platform prepares for listing on top-tier cryptocurrency exchanges, experts anticipate these combined factors will propel RCOF to $1 before Dogecoin (DOGE).
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