The Dogecoin price has lifted by 2.5% in the past 24 hours, reaching $0.078085 on a day when the wider market is just shy of an overall 1% gain.
DOGE is now down by 7.5% in a week, yet it remains up by close to 20% in the last 30 days, with the meme token also having risen by 11% since the the start of the year.
While this latter percentage seems modest in comparison with the gains posted by bigger tokens (e.g. BTC, ETH, SOL, XRP), DOGE has witnessed a number of significant whale transfers in the past few days.
This suggests that it could be on the brink of further rises, particularly as the market looks to end the year on a high.
Dogecoin Price Prediction as Technical Indicators Signal Increased Whale Activity – How High Could DOGE Go?
DOGE’s indicators are beginning to draw strength yet again, pointing towards further potential rises over the weekend.
Its RSI (purple) has risen from under 50 earlier in the week and is now on course to reach 60, with plenty of room for further climbs before DOGE hits overbought territory again.
Similarly, the meme token’s 30-day average (yellow) continues to rise further above its 200-day (blue), reinforcing the impression that DOGE remains within an upwards cycle.
Dogecoin’s support level (green) also bolsters this view, providing the token with higher bases from which to mount new rallies.
And while its 24-hour trading volume has declined in the past few days, it still remains above the very low levels witnessed in September and early October.
— Whale Alert (@whale_alert) November 22, 2023
Based on this interest, it’s likely that the Dogecoin price will continue to witness rises over the coming weeks.
This will particularly be the case if and when the SEC approves a spot-based Bitcoin ETF for the first time, something which will carry DOGE along with the whole market.
As for DOGE itself, it doesn’t have much on its own pipeline that would suggest big rallies, even if its community continues to wait hopefully for a possible integration with X (formerly Twitter).
If that happens, DOGE will undoubtedly moon, but for now, traders can expect it to reach $0.1 by the start of the New Year.
New Meme Tokens With High-Return Potential
Traders tired of waiting for X to introduce DOGE payments may prefer to look to newer meme tokens, however, with a number of interesting new coins currently holding their presales.
One of these is Meme Kombat (MK), an ERC-20 cryptocurrency that has raised $2 million in its token offering.
We did it fighters!!!
We passed $2 million raised in presale for $MK
Now to find out who wins the 10,000 USDT pic.twitter.com/qEGeDTnwWP
— Meme Kombat (@Meme_Kombat) November 22, 2023
Such a raise suggests that the market has considerable confidence in Meme Kombat, which will launch a platform enabling users to bet on AI-generated meme battles.
That is, Meme Kombat’s platform will render entertaining battles between popular meme characters in real time, with users able to bet against each other or against the platform with regards to the results of said battles.
The platform will pay winnings in the form of its native token MK, which will have a total max supply of 120 million.
Users will also be able to use MK for staking, providing themselves with a passive income, in addition to any winnings they earn.
Staking is already active, with Meme Kombat issuing over 1 million in MK to stakers.
The price of $MK is now $0.214
— Meme Kombat (@Meme_Kombat) November 23, 2023
With the platform due to launch in the next few weeks, all of these features have created considerable excitement among investors, who can join the presale at the Meme Kombat official website.
1 MK currently costs for $0.214, although this will rise to $0.225 in just under a week, so interested buyers are advised to act sooner rather than later.
Yet such prices are likely to be overshadowed once the token lists on exchanges, where its successful presale suggests it could rally big.
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.