Dogecoin price’s continuous drops over the last 3 months are a big concern for the meme coin community. Confidence levels have dropped, many investors have sold their coins, and a huge chunk of the remaining holders are thinking about dumping DOGE.
Since crypto presales are bubbling right now, a high-potential ICO looks like the ideal destination for wantaway DOGE holders. However, DOGE is still a top crypto token with a massive community. A bounceback might be on the cards with analysts eyeing a rally to $0.3. Is this enough to persuade DOGE lovers to continue holding?
The meme coin winter nobody anticipated
Meme coins used to be the go-to for many crypto investors. They’re affordable and explosive, and getting in at the right time could deliver life-changing profits. So, when meme coins started soaring in the third quarter of 2024, meme investors began to anticipate another round of hefty ROIs.
The US presidential election in November took things a notch higher. In the aftermath of Donald Trump’s victory, several meme coins soared to new all-time highs and Dogecoin crossed $0.4 for the first time in years. The atmosphere was charged with positivity as Elon Musk, a known DOGE ambassador, was expected to play a part in the new US government. Many expected the positive publicity to push DOGE to new all-time highs.
However, this boom was short-lived, as the crypto market crashed in the second week of December. Since they rely mostly on hype, meme coins were decimated during this period. They were seriously impacted by FUD, and the resulting price correction crashed the Dogecoin price. DOGE fell from its high of $0.4 to below $0.3 – which was a 25% drop.
Even though Dogecoin reclaimed some ground afterward, it continued to drop. DOGE spent the majority of January and February in the red zone, and its current price level of $0.20 reflects this disappointing performance. The meme coin party seems to be over, and more investors are seeking better investment options in other tokens.
Can Dogecoin price reclaim $0.3?
In the crypto world, anything is possible. Dogecoin has gone through several bear markets, so its current predicament isn’t that different from its past woes. If Dogecoin survived the bears of 2022 and 2023, surely, it can find its way back up. Right? That’s what DOGE loyalists tell themselves to keep hope alive, but what do market signals say?
Technically, DOGE faces a gauntlet. The RSI sits around 45, signaling that it is neither oversold nor overbought. The support level keeps dropping with each new week, and sellers are clustering around the $0.2 to $0.25 level of late.
On-chain data shows whales accumulating DOGE, but retail volume– the lifeblood of meme rallies– remains anemic. For Dogecoin price to hit $0.3, it needs to experience a 67% surge, a feat that’ll require another ballistic Bitcoin bull run and/or several rounds of Elon Musk’s tweetstorm. Neither is guaranteed.
The bottom line
Dogecoin price rising to $0.3 is not likely to happen anytime soon, but it does seem to be on the horizon. However, before DOGE hits this price level, DTX Exchange’s new trailblazing crypto presale would’ve skyrocketed.
That’s because DTX offers access to over 120,000 trading pairs, leverages up to 1,000x, as well as institutional-grade trading tools. Now in presale, it goes for $0.18, and an imminent exchange listing is set to push its price to $0.36, fetching new investors an instant 2x ROI.
The exposure post-listing is expected to send DTX’s price to the moon and send it above $2, making it a must-have for every serious investor.
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