Dogecoin Price Outlook: DOGE Plunges 22% In A Month As Investors Pivot To This P2E Dogecoin Derivative For Parabolic Potential

The
Dogecoin
price
dropped
2%
in
the
last
24
hours


to
trade
at
$0.1238

as
of
00:58
a.m.
EST
on
trading
volume
that
also
slid
2%
to
$416
million.

This
comes
as
the
token
dropped
22%
in
the
last
month,
a
plunge
that
coincided
with
Bitcoin’s
7%
fall
over
the
same
period.

Dogecoin
Price
Set
to
Breakout
Above
The
$0.13
Range

The
Dogecoin
price
has
been
on
a
downtrend
since
the
beginning
of
June,
falling
within
a
falling
channel
from
the
$0.17
resistance
zone,
according
to
data
from


GeckoTerminal.

After
reaching
the
$0.1185
level,
Dogecoin
entered
a
consolidation
phase,
with
bullish
momentum
breaking
above
the
upper
boundary
of
the
channel
at
$0.1251.

This
surge
from
the
lower
boundary
pushed
DOGE
above
the
50-day
Simple
Moving
Average
(SMA),
reinforcing
bullish
market
sentiment.
If
this
momentum
holds,
there’s
potential
for
Dogecoin’s
price
to
surpass
the
200-SMA
at
$0.1403.

Moreover,
the
Relative
Strength
Index
(RSI)
trades
within
the
50-midline
level,
currently
at
48,
showing
that
Dogecoin
is
currently
in
equilibrium,
as
the
bulls
aim
for
a
breakout
from
the
consolidation
phase.

Dogecoin
Price
Prediction

The
Dogecoin
price
analysis
on
the
4-hour
chart
indicates
that
the
bulls
are
gearing
up
towards
a
bullish
trend
reversal.
The
DOGE
price
breached
the
upper
boundary
of
the
falling
channel
pattern
and
is
currently
in
equilibrium.

If
the
bulls
capitalize
on
the
channel
to
push
the
token
up,
the
price
of
Dogecoin
could
soar
back
to
the
$0.17
resistance
zone.

However,
if
the
bears
take
control
of
the
price,
DOGE
could
breach
the
$0.12
support
zone,
which
could
push
the
token
further
to
the
$0.15
support
zone.

As
the
Dogecoin
price
bulls
prepare
for
a
bullish
trend
reversal,
many
DOGE
meme
enthusiasts
are
also
buying
the
DOGE
derivative
ICO


PlayDoge
(PLAY)

as
it
strives
to
replicate
DOGE’s
success.
The
token
has
already
amassed
$5.3
million
in
funding.

According
to
Jacob
Bury,
a
prominent
crypto
analyst
on
YouTube,
PLAY
has
the
potential
to
soar
10X
after
its
launch.

PlayDoge
Meme
Coin
Raises
Over
$5.3
Million
In
ICO
Explosion
–
Best
Alternative
To
Dogecoin?

PlayDoge
is
a
mobile-based
play-to-earn
(P2E)
game
that
is
set
to
transform
the
DOGE
meme
into
a
Tamagotchi-style
virtual
pet
that
will
allow
users
to
seamlessly
earn
$PLAY
tokens.

The
project
is
based
on
the
PlayDoge
mascot,
a
virtual
dog
acting
as
a
P2E
companion
where
players
timely
feed,
train,
and
play
with
their
2D
Doge,
earning
$PLAY
tokens
in
the
process.

Don’t
ghost
your

#Doge
or
it’ll
die
????

Feed
your
Doge,
earn
rewards,
and
level
up.
No
mazes,
just
fun!#Presale
has
launched!
????#PlayDoge

#P2E

#Memecoin

pic.twitter.com/Fp2sFwycpj

—
PlayDoge
(@PlayDogeGame)

May
31,
2024

Token
holders
can
also
earn
passively
by


staking
$PLAY

for
an
annual
percentage
yield
(APY)
of
113%.

$PLAY
runs
on
the
BNB
Smart
Chain,
which
means
that
the
token
is
on
the
radar
of
the

Binance
listing
team.
With


Binance

being
the
largest
centralized
exchange
in
crypto,
a
listing
there
would
be
a
massive
boost
to
PLAY’s
prospects
and
increase
its
accessibility
and
liquidity.

You
can
buy
$PLAY
tokens
for
$0.00514
each.
With
a
price
hike
coming
in
about
4
hours,
buy
soon
to
lock
in
the
best
deal.

To
join
the
presale,


buy
$PLAY
from
the
official
website
here

using
BNB,
USDT,
or
a
bank
card.

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