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The Dogecoin price has soared 7% in the last 24 hours to trade at $0.4359 as of 3:15 a.m. EST on a 54% jump in trading volume to $16.5 billion.
Dogecoin Price Breaks Above A Symmetrical Triangle
The DOGE/USD trading pair trading at $0.4359 shows a symmetrical triangle pattern on the 4-hour timeframe, indicating a period of price consolidation. This pattern is normally neutral, meaning the direction of the breakout, either upward or downward, will determine the next significant trend. The price is approaching the apex of the triangle, suggesting that a decisive move is imminent.
DOGEUSD Analysis Source: Tradingview
The Simple Moving Averages (SMAs) provide important levels of support and context for market momentum. The 50 SMA on the 4-hour chart, currently at $0.4172, acts as a short-term support level and indicates that bullish momentum is intact as long as the price stays above it.
The 200 SMA, located much lower at $0.34, serves as a long-term support, reinforcing a broader bullish bias. If the price breaks out of the triangle to the upside, the target range lies between $0.50 and $0.55, based on the height of the triangle projected upward.
Dogecoin Price Technicals Indicate A Further Bullish Rally
The Relative Strength Index (RSI) is currently at 61.24, which is above the neutral 50 mark. This suggests that bullish momentum for Dogecoin’s price is present without reaching overbought levels (above 70). Such RSI behavior supports the potential for an upward breakout.
While volume isn’t displayed on this chart, a successful breakout, especially one to the upside, would require confirmation with increased trading volume to validate the move. For support and resistance, the immediate levels to watch include the 50 SMA at $0.4172 and the lower boundary of the triangle as key support zones.
On the resistance side, the upper triangle boundary at $0.44–$0.45 is crucial, followed by the projected target range of $0.50–$0.55 if a bullish breakout occurs. In the event of a breakdown, the 200 SMA at $0.34 would become the key support level to monitor.
Wall Street Pepe (WEPE): A New Meme Coin Presale Crashes Towards $1 Million
As the Dogecoin price gears up for further rally, investors are rushing to buy the Wall Street Pepe (WEPE), a fresh meme coin alternative to Pepe that has raised over $670K in presale funding so far.
An analyst from the popular CryptoNews YouTube channel, which has over 14K subscribers, says WEPE is being hailed as a potential breakout “degen play” in the market.
WEPE token introduces a unique blend of the iconic Pepe meme with Wall Street-inspired trading strategies. In the competitive world of finance, whether in traditional markets or crypto, whales and insiders often dominate, leaving smaller investors at a disadvantage.
Wall Street Pepe is on a mission to level the playing field for retail traders, stepping in as a market-savvy ally for everyday investors. In a world where big players and insiders often dominate the game, Wall Street Pepe is here to give smaller traders a fighting chance.
Who said money doesn’t grow on trees 🐸⚔️ pic.twitter.com/tRLhkEnEBu
— Wall Street Pepe (@WEPEToken) December 4, 2024
As the project’s website puts it, “Wall Street Pepe hates that whales are hiding in insider groups. So he decided to make his own. Join the WEPE Token Army, frogs strong together!”
The WEPE presale aims to replicate the incredible success of Pepe, the original meme coin phenomenon.
While focusing on building a strong and community-driven foundation, the WEPE token also offers practical advantages for its holders. These include access to exclusive trading insights, market strategies, and alpha calls, helping investors make informed decisions in the volatile crypto market.
Investors Can Enjoy A Huge 817% APY
One of the standout features of WEPE is its staking mechanism, which provides an impressive 817% annual percentage yield (APY). This creates an excellent passive income opportunity for token holders while they remain invested in the project.
If you ain’t evolving, you dissolving! 🐸 pic.twitter.com/c4JdU4P1MY
— Wall Street Pepe (@WEPEToken) November 13, 2024
Investors can purchase WEPE tokens through the official website for $0.000203, with payment options including ETH, USDT, or a bank card.
However, with a price increase scheduled in less than four days, early buyers have a limited window to secure the best deal. This is a great opportunity to join the next big meme coin movement while maximizing potential returns.
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