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As meme coin markets hint at a comeback from the crypto crash, Dogecoin (DOGE) is teasing an upside move. In this article, we jump into DOGE price analysis to discover what’s next for the top dog, and also take a look at newcomer Dogecoin20.
One day away from the Bitcoin Halving and Doggy coins are back. Less than an hour after its debut on the decentralized exchange, Uniswap DOGE20’s value went ballistic, reaching an eye-popping +101%.
It’s now looking like the Dogecoin 20 price will have a better 4/20 than its ancestor Dogecoin.
DOGE Price Analysis: As DOGE20 Surges – What’s Happening to the Top Doge?
Markets are supercharged as Dogecoin approaches April 20, 2024—a significant date for many in the crypto community – combining International Doge Day, the Bitcoin Halving, and the day that stoners everywhere celebrate.
So should you load up your Dogecoin bags and what will the Dogecoin 20 price be in 2024?
As for classic Dogecoin (it feels weird saying that), DOGE’s market cap shows some volatility, but there’s a clear support level at around the $21 billion mark, where the price action shows resilience.
Amid the uptick move, Dogecoin is currently trading at a market price of $0.15 (representing a 24-hour change of +1.99%).
(DOGEUSDT)
The trading volume shows some hefty spikes showing that traders with conviction are supporting Doge. Additionally, the RSI is wading around the mid-range, not giving us extreme signals. It’s in the moderate zone, not flashing overbought or oversold signals.
And what’s a 4/20 without Elon Musk shenanigans?
This week Elon Musk tweeted a Biggus Dickus Monty Python parody featuring Dogecoin adding to the Doge fervor.
Before we get into the Dogecoin 20 price, the MACD (Moving average convergence/divergence) shows that moving averages converge ahead of the Bitcoin Halving this weekend.
Dogecoin 20 Price: Should You Buy or Sell Right Now?
Dogecoin20’s ICO, drawing over $10 million, concluded early due to insane demand, propelling its price upwards by 101% post-Uniswap listing.
When does that ever happen? Not often. Positioned as a cleaner, faster, and more environmentally friendly option, DOGE20 leverages Ethereum’s Proof-of-Stake mechanism, distinguishing itself from its Proof-of-Work predecessor.
Here are some other things great about DOGE20:
- Crazy Staking Rewards: Offering a lucrative 41% APY for stakers, nearly 70 billion DOGE20 tokens are already locked, signaling strong holder commitment and enhancing token stability.
- Green Crypto: Dogecoin20 could draw investment away from Dogecoin and similar tokens, emphasizing the growing demand for eco-friendly coins
Nearly half of the total DOGE20 supply is already locked in staking, indicating strong holder confidence and a solid foundation for the token’s future.
Its staking is almost as good as our 99BTC Token… you should check that out by the way (wink-wink)!
Despite a modest pullback from initial highs, DOGE20 remains above its launch price, with a market cap under $30 million. This figure pales compared to Dogecoin’s $21 billion it’s a promising start.
The Key Question: Should You Buy Dogecoin at These Levels?
So, what’s the play? Keep those support levels in check (at $.015) and watch if the RSI decides to wake up and make a move – this could indicate seismic growth on the horizon for DOGE.
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As we’ve written at length this week, Bitcoin Halving does not guarantee a boost in crypto prices. Read that again.
In fact, it has a history of doing the opposite initially. So don’t live on prayer for the Dogecoin20 price.
The Bottom Line: What Will Be Doge20 Price EOY?
Does DOGE20 have lasting value? Well, does Grizzly Adams have a beard?
The answer is we don’t know. The true answer is that all meme coins are dangerous long-term holds; no one from 2012 thought even DOGE would be around at this point – even DOGE price analysis by our experts at 99Bitcoins couldn’t predict that!
So, While Dogecoin20 has some great prospects, be careful. DYOR, and happy Halving!
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
