Dogecoin (DOGE) is trading at $0.40 currently, battling its local support level for the third straight session. While analysts acknowledge the cryptocurrency's resilience, they predict limited upside in the near term as technical indicators reveal weakening momentum.
Meanwhile, crypto whales appear to be exploring alternatives, with Yeti Ouro (YETIO), a utility-driven meme coin, attracting significant attention by raising over $1 million in its ongoing presale.
Dogecoin Price Prediction: DOGE Struggles At Key Support Amid Market Weakness
Dogecoin price of $0.40 places it in a crucial technical support zone, testing the lower boundary of its recent upward regression channel. Over the past month, Dogecoin has demonstrated impressive gains, surging by 160% in November and reaching a December peak of $0.4846. However, recent selling pressure caused the cryptocurrency to break below its ascending trendline, signaling potential short-term correction.
DOGE price of $0.35 support level is considered a vital zone for buyers, with analysts noting that it aligns closely with the 50% Fibonacci retracement from October lows of $0.10. Resistance remains strong at $0.44 and $0.48-$0.50 while breaking these levels could open the path to its 2021 all-time high of $0.70. Still, bearish divergences in the Relative Strength Index (RSI) and the breakdown of key trendlines suggest that a sustained rally may face challenges.
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Liquidation data further indicates market uncertainty, with $27 million in DOGE positions liquidated in the past 24 hours, $20 million of which were longs. Despite these challenges, Dogecoin's performance in 2024 remains robust, boasting a 350% gain, nearly triple that of Bitcoin.
Yeti Ouro Gains Momentum As Crypto Whales Shift To Presale Investment
While Dogecoin battles technical resistance, Yeti Ouro has emerged as a promising alternative for investors seeking high-growth opportunities. Yeti Ouro combines the meme coin appeal with real-world utility through its integration with Yeti Go, a play-to-earn (P2E) racing game built on Unreal Engine.
The Yeti Ouro presale has attracted substantial interest, raising $1.02 million in its first stage, with 85.2% of tokens sold. With only 4 days left before price increase investors are flocking to YETIO presale. The coin's capped supply of 1 billion tokens and 5% burn mechanism create a scarcity-driven model, further increasing its appeal.
"Yeti Ouro offers an exciting blend of gaming rewards and utility, which sets it apart in the crowded cryptocurrency market," a spokesperson for the project stated. Early adopters are capitalizing on the presale, anticipating potential returns as the project progresses.
Yeti Go: The Play-to-Earn Game Driving Yeti Ouro's Popularity
A key factor behind Yeti Ouro's presale success is its association with Yeti Go, a P2E racing game poised to redefine multiplayer gaming. Built on Unreal Engine 5, the game promises fast-paced, elimination-style races with in-game rewards tied to YETIO tokens.
The development team recently announced that game mechanics and level designs have been optimized to ensure smooth, immersive gameplay. Yeti Go also features dynamic object interactions and environments designed to enhance replayability.
Yeti Go's unique integration of blockchain technology and high-quality gaming has positioned it as a standout project. "Our goal is to combine engaging gameplay with tangible rewards, creating a vibrant community for players and investors alike," the team shared.
Join the Yeti Ouro CommunityWebsite: https://yetiouro.io/
Telegram: https://t.me/yetiouroofficial
Discord: https://discord.gg/YtUsEZ2ZrV
X (Formally Twitter): https://x.com/yetiouro
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
