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Popular crypto analyst Ali Martinez (@ali_charts) reveals that the Dogecoin price could double in the coming days.
Meanwhile, a new dog-themed meme coin Dogeverse is nearing its highly-anticipated IEO on June 5th. Several smart-money traders are backing Dogeverse to deliver robust returns right out the gate, potentially even 100x gains.
Crypto Expert’s Dogecoin Price Prediction
Widely followed crypto trader Ali Martinez reveals that Dogecoin is facing a significant resistance between the $0.166 and $0.177 price levels.
In this range, more than 75,000 addresses have purchased over 10 billion $DOGE tokens. However, once the bulls manage to breach this level, Dogecoin faces its next crucial resistance all the way up at $0.32.
#Dogecoin is encountering significant resistance between $0.166 and $0.171, where 75,500 addresses have acquired nearly 10 billion $DOGE. However, once this barrier is overcome, #DOGE has the potential to double, with the next key resistance around $0.322 pic.twitter.com/p02Cks63EI
— Ali (@ali_charts) May 28, 2024
Doge may also have to flip the resistance at $0.19 to kickstart its price rally.
However, the possibility that the top meme coin is on the cusp of a steep upwards trajectory can no longer be dismissed.
With the rest of the meme coin market skyrocketing – including dog-themed tokens such as Floki coin and Dogwifhat – it is only a matter of time before Dogecoin joins the party.
As such, Doge remains highly undervalued, especially in comparison to other top meme coins. While Pepe has hit several new all-time highs and Floki is extremely close, Dogecoin is still trading 77% below its previous all-time high.
It is not unusual for Doge to show long periods of consolidatory price action. Therefore, while its tepid price action may have been disappointing so far, experts believe that a major upside move is on the horizon.
However, Dogecoin would need support from the broader market sentiment. On Tuesday, the meme coin briefly dipped 5% owing to the Mt. Gox Bitcoin FUD.
Similarly, macroeconomic risks have resulted in the DOGE price trading 26% below its yearly-high of $0.22.
However, considering that the Federal Reserve Chair Jerome Powell has adopted an increasingly dovish stance, the stage is set for a bullish Dogecoin price reversal. As of Wednesday, the Dogecoin price has recovered to trade above Tuesday’s open.
Is Dogeverse a Better Alternative To Dogecoin?
One of the reasons behind Dogecoin’s disappointing price action has been the demand for new meme coins, several of which have already delivered over 100x returns.
Now, another new meme coin Dogeverse is stealing the spotlight, owing to its highly-anticipated IEO on June 5th.
Get ready to blast off with Cosmo! 
#Presale ends on June 3rd at 10 AM UTC!
Claim launches on June 5th at 10 AM UTC!
This is your LAST CHANCE to join Cosmo on his #Blockchain adventures before the official launch! 
Don’t miss out! The clock is ticking! 
… pic.twitter.com/QwpzWcm947
— DogeVerse (@The_DogeVerse) May 23, 2024
Dogeverse’s highly-successful presale – which has already raised over $15 million – is now in its final stage and is set to complete on June 3rd. Consequently, the FOMO and hype surrounding this new token is only going up.
Dogeverse has adopted an innovative multi-chain strategy to maximize its brand awareness and price potential. The new meme coin will launch in 6 different blockchain ecosystems, hitting their popular DEXs and CEXs. It will go live on Ethereum, Solana, Base, Avalanche, Polygon and BNB Smart Chain.
Token holders can utilize the Dogeverse bridge – built on top of advanced Wormhole technology – to switch their holdings from one chain to the other. For instance, investors can transfer their Dogeverse tokens to Ethereum and stake them to generate attractive passive income.
Owing to this revolutionary multi-chain strategy, experts believe that Dogeverse could potentially be the next 100x meme coin.
Visit Dogeverse Presale
*Cryptonomist did not write the article or test the platform.