A storm is quietly brewing in the meme coin sector as market leader Dogecoin surges 15% this week.
One of the most promising new meme coins, Dogeverse, is also gaining pace as its presale exceeds $2.5 million.
Following intense selling pressure over recent weeks, Dogecoin’s price chart signals an uptrend continuation is on the horizon. Its lower-time-frame price action has forged higher lows and higher highs.
The OG meme coin is trading at $0.19, up 0.8% today, 15% this week, and 14% this month. It holds a $28.5 billion market cap and a $2.2 billion 24-hour trading volume, down 12% today.
DOGE recently peaked at $0.22, its highest price since December 2021. But a selloff then ensued, pushing it to lows of $0.17.
Nevertheless, its recent price action sets a bullish outlook, laying the way for an uptrend continuation.
Analysts have picked up on Dogecoin’s recent strength and are optimistic about its upcoming trajectory. For instance, Crypto Rand explained that Dogecoin is “looking for a breakout.”
He displays a price chart, with DOGE advancing toward a trendline resistance, which could enable an uptick toward its range high once broken.
Similarly, prominent trader Bluntz noted that Dogecoin is attempting to break a trendline resistance and speculates a breakout could ignite its next bullish wave.
“DOGE is flirting with that diagonal resistance. I think a mark-up is pretty close,” he wrote.
The analyst’s chart also illustrates that Dogecoin catapulted to new highs the last time it broke a trendline resistance.
Meanwhile, Whale of City anticipates a move toward $0.45 for Dogecoin in the coming weeks. Based on its current price, this represents a 136% gain.
Whale of City highlighted that DOGE has recently retested a macro support level from 2021, which confirms the bullish outlook.
However, Dogecoin’s potential is just one component of the unprecedented meme coin frenzy that is taking the market by storm.
Another meme coin showing massive potential is Dogeverse, the first-ever multichain Doge cryptocurrency.
Dogeverse, a compelling multichain presale, has raised the bar for meme coin innovation.
In an unwavering nod of approval, quick-footed traders have invested over $2.6 million in the presale’s first three days.
Meanwhile, industry experts back it for outsized success. For instance, analysts from the 99Bitcoins YouTube channel speculate it holds 100x potential.
But to anyone who understands the intricate meme coin market dynamics, this project’s hype is no surprise.
Dogeverse will launch on the six hottest smart contract-enabled blockchains, starting with Ethereum, Polygon, and BSC. Soon after, Solana, Base, and Avalanche will follow.
This unites the once-differential blockchain communities under the banner of one powerful meme coin.
What’s more, while other meme coins are at the whim of user migration between different networks, Dogeverse benefits no matter which chain users opt for.
In a bid to foster a lasting community, Dogeverse will offer staking rewards to its holders. The feature is live and provides a 380% APY, but this will decrease as the staking pool grows.
And in a two-pronged approach to incentivizing early adopters, the $DOGEVERSE presale price will incrementally increase throughout the event. The next uptick will happen in one day or when the total raise hits $3.4 million.
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