Dogecoin Price Prediction: DOGE Plummets 9% As Whale Moves $41M Dogecoin, But This P2E DOGE Derivative Presale Zooms Towards $6M

The
Dogecoin
price


plunged

over
9%
in
the
past
24
hours
to
trade
at
$0.0998
as
of
7:50
a.m.
EST
as
investors
dump
their
holdings
in
the
largest
meme
coin
by
market
cap.

????
????
400,000,000

#DOGE
(41,081,558
USD)
transferred
from
unknown
wallet
to

#Binancehttps://t.co/N8KfXvgIze

—
Whale
Alert
(@whale_alert)

July
5,
2024

This
recent
drop
in
the
DOGE
price
comes
hard
on
the
heels
of
a
market
wide
crypto
crash
and
a
large
whale
transfer.

Whale
Tracking
platform
Whale
Alert
revealed
in
a
July
5
post
on
X
that
an
investor
sent
400,000,000
DOGE
tokens,
estimated
to
be
worth
more
than
$41
million
at
the
time
of
the
transfer,
to
Binance
earlier
today. 

The
Dogecoin
Price
Stuck
In
A
Bearish
Channel

4-hour
chart
for
DOGE/USD
(Source:


GeckoTerminal)

A
descending
channel
has
emerged
on
the
4-hour
chart
for
the


Dogecoin

price
after
the
meme
coin
printed
a
series
of
lower
lows
and
lower
highs.
During
this
sequence,
DOGE
lost
the
$0.10328
support
as
well,
and
is
now
testing
the
next
critical
mark
at
$0.08728.

If
the
Dogecoin
price
falls
below
this
key
price
point,
it
could
be
at
risk
of
dropping
further
in
the
following
24
hours.
Conversely,
the
meme
coin
maintaining
a
position
above
$0.08728
for
the
next
12
hours
could
invalidate
the
bearish
thesis.

In
this
alternative
scenario,
DOGE
might
attempt
to
break
above
the
upper
boundary
of
the
bearish
price
channel.
This
is
also
confluent
with
the
recently-lost
$0.10328
support.
As
such,
the
Dogecoin
price
escaping
the
channel
could
give
the


meme
coin

the
foundation
needed
to
rise
to
the
subsequent
barrier
at
$0.11928
in
the
short
term.

Bearish
Pressure
On
The
Dogecoin
Price
Starting
To
Ease

Technical
indicators
on
DOGE’s
4-hour
chart
suggest
the
bearish
pressure
that
has
been
exerted
on
the
meme
coin’s
price
throughout
the
past
day
of
trading
might
be
cooling
down.
Both
the
Moving
Average
Convergence
Divergence
(MACD)
and
the
Relative
Strength
Index
(RSI)
indicators
are
showing
early
signs
of
a
potential
bullish
trend
reversal.

The
RSI
is
currently
below
30,
which
is
generally
seen
as
a
sign
that
a
crypto
is
oversold.
Traders
usually
identify
low
RSI
values
as
a
good
long
entry
because
it
indicates
that
a
crypto’s
upside
potential
is
greater
than
its
downside
potential.
This
seems
to
be
the
case
with
DOGE
on
the
4-hour
chart,
because
the
RSI
has
started
to
slope
positively
in
the
last
8
hours.

Meanwhile,
the
Dogecoin
price
seems
to
be
in
a
short-term
bearish
cycle,
as
evident
by
the
MACD
line’s
positioning
below
the
MACD
Signal
line.
However,
the
gap
between
the
two
indicators
is
starting
to
shrink.
This
might
be
an
early
sign
of
DOGE’s
negative
phase
coming
to
an
end.

Before
traders
and
investors
go
long
on
DOGE,
it
might
be
best
to
wait
for
a
bullish
confirmation.
This
could
either
be
the
Dogecoin
price
breaching
the
$0.10328
mark
or
the
RSI
rising
above
30. 

While
the
Dogecoin
price
attempts
to
escape
a
bearish
channel,
the
ICO
for
play-to-earn
crypto


PlayDoge
(PLAY)

is
fast-approaching
$6
million
in
funds
raised.

Blockchain
Technology
Mixed
With
A
Touch
Of
90s
Nostalgia

PlayDoge
(PLAY)
is
one
of
the
latest
cryptos
looking
to
establish
itself
in
the
vibrant
meme
coin
ecosystem.

What
sets
PLAY
apart
from
other
light-hearted
tokens
is
its
aim
to
bring
back
the
once-popular
Tamagotchi
game.
These
virtual
pets
were
a
hit
in
the
90s,
and
sold
millions
of
units
worldwide.

Despite
this
global
success,
gameplay
was
limited
and
the
virtual
pets
would
inevitably
die.
Through
the
combination
of
blockchain
and
crypto
technology,
PlayDoge
will
reward
players
in
crypto
for
simply
taking
care
of
their
digital
companions
and
ensuring
that
they
get
enough
love,
food
and
sleep.

Players’
ability
to
earn
rewards
paid
out
in
PLAY
coupled
with
the
project’s
appeal
to
meme
coin
investors
caught
the
attention
of
renowned
crypto
YouTuber
Jacob
Bury.

In
a
recent
video,
he
told
his
41.2K
subscribers
that
PlayDoge
might
be
the
best
play-to-earn
token
to
buy
now,
and
a
potential
10X
opportunity
for
investors.

Investors
Bet
Big
On
PLAY’s
Future

Despite
the
recent
market
downturn,
investors
continue
to
flock
to
PLAY’s
ICO,
investing
over
$5.3
million
in
the
project
so
far.

In
addition
to
PlayDoge’s
speculative
potential,
another
potential
factor
that
might
be
pulling
investors
in
is
the
lucrative
staking
opportunity
available
to
buyers
at
this
early
stage.

Anyone
who
purchases
and
locks
up
PLAY
tokens
during
the
meme
coin’s
ongoing
ICO
phase
gains
access
to
an
incredible
107%
APY.
To
get
in
on
this
opportunity,
investors
can
acquire
the
token
through
the
simple
buy
widget
embedded
on
the
project’s
site.

Selling
for
$0.00516,
the
meme
coin
can
be
bought
using
ETH,
USDT,
BNB
or
bank
card.
Investors
will
want
to
hurry,
though,
because
the
token’s
price
is
set
to
increase
in
less
than
3
days.

Purchase
and
stake
PLAY
here
for
up
to
107%
in
annual
rewards.

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