It’s been a long time since DOGE actually made its holders happy. In fact, it didn’t happen since March this year when price quickly pumped from $0.08 to $0.22.
Since then, the DOGE price wasn’t able to produce any big pumps and it was never close to that $0.22 resistance zone.
Dogecoin is now trading slightly below $0.10. Analyst Ali Martinez posted a viral DOGE chart today on Twitter.
Dogecoin Price Prediction – Will DOGE Breakout and Hit $0.15?
The DOGE chart shared by analyst Ali illustrates a Falling Wedge pattern on the daily timeframe. This pattern is generally considered bullish, especially when found in a downtrend.
DOGE has been in a downward trend since reaching its local highs around June, as evident by the descending wedge pattern. The price has been fluctuating between two converging trendlines, making consistently lower highs and lower lows.
Source: X/@ali_charts
Currently, the DOGE price is hovering near the lower boundary of the wedge, around $0.095, which acts as a support level. Below that, support lies around the $0.08 area, a crucial floor Dogecoin must hold to avoid a deeper drop.
The main resistance is the upper boundary of the wedge, at around $0.10. A daily candle close above this level would confirm a breakout of the falling wedge. This could potentially see Dogecoin push toward the next major Fibonacci level at $0.1030.
Ali’s tweet suggests that the falling wedge is nearing a potential breakout point. He emphasizes the importance of a sustained close above $0.10, which would confirm the breakout from this wedge pattern. The analyst highlights $0.15 as the first bullish target, which aligns with the Fibonacci 0.618 level ($0.1536), a historically strong resistance point in Fibonacci analysis.
If DOGE closes above the $0.10 mark, it could trigger a strong bullish rally toward $0.15. This would align with typical wedge breakouts, which often lead to sharp reversals and extended upward movements.
However, if Dogecoin fails to break above $0.10 and instead breaks below the wedge’s lower trendline, there could be a further bearish continuation, possibly down to $0.08 or lower.
Read also: Bitcoin Price Crash: Is More Pain On The Horizon? Elite Crypto Analyst Weighs In
Best Low-Cap Meme Coin To Buy for Higher ROI
While DOGE might offer potential gains, some investors are looking at newer projects for potentially higher returns. One such project is PandaWorld, a new meme coin that aims to differentiate itself by offering more utility and value to holders.
PandaWorld is currently in presale with over $115,000 raised in days. The total supply of PADW tokens is set at 88,800,000,000. The project’s token distribution includes 40% for presale, 20% for liquidity, 15% for staking rewards, 10% each for marketing and ecosystem fund, and 5% for the project fund.
A key feature of PandaWorld is its revenue sharing model. A portion of the revenue generated from the P2E games, casino, and content platform is allocated to a central pool. Users who stake their PADW tokens become eligible to receive a share of this revenue, potentially earning passive income while their tokens remain staked in the ecosystem.
PandaWorld employs a deflationary token model, with the supply of PADW coins designed to decrease over time through periodic token burns. This mechanism aims to increase the value of remaining tokens as the overall supply diminishes.
Beyond just being a meme coin, PandaWorld is working to build out a broader ecosystem that includes an NFT marketplace for trading digital assets, exclusive merchandise, and community events.
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The post Here’s How DOGE Price Might Explode 50% and One Low-Cap Meme Coin To Consider for Even Higher ROI appeared first on CaptainAltcoin.
