Dogecoin could be primed for an explosive higher move as it struggles with the psychologically significant $0.2 level.
Market-leading meme coin Dogecoin has enjoyed a strong recovery today, recently crossing the critical $0.2 mark. Meanwhile, new Dogeverse multi-chain pre-sales surpass $1 million as investors rush to lock in a discounted price.
Dogecoin Flirts with $0.2 As Analysts Predict Explosive Upside
Dogecoin is currently priced at $0.1993, having recently crossed $0.2 for the first time since Monday. In fact, this illustrates that a recovery may be on the horizon after intense selling pressure in April.
Adding to the bullish outlook, though, Dogecoin has outperformed the market today. Currently, the total crypto market capitalization has increased by 1.9%, while Dogecoin has increased by 5.8%. The heavyweight meme coin is also up 9.8% this week, 12.4% this month, and 134% this year. It has a market capitalization of $28 billion and a 24-hour trading volume of $2.7 billion.
A popular pseudonymous trader who goes by the name Knight INJ. on X recently predicted that Dogecoin will soon advance towards $0.45. The analyst referenced its breakout above its $0.15 macro resistance level, anticipating that it will drop to retest it as support before jumping 306% to the target price.
Whale of City also anticipates that Dogecoin will advance towards $0.45, highlighting that its price has skyrocketed on the monthly time frame. “The chart is extremely bullish! I’m telling you over and over again that DOGE will pump hard soon. $0.45 is a magnet,” he wrote.
Meanwhile, trader World of Charts highlighted that Dogecoin has been consolidating recently but anticipates a decisive move higher next. The analyst explained: “Doge is consolidating into a bullish pennant. “I expect a move towards $0.3 after a clear breakout.”
One of the reasons analysts are bullish on Dogecoin is the upcoming “Doge Day” on April 20. It was declared Doge Day because members of the Dogecoin community suspected it was Elon Musk’s favorite day. But along with Dogecoin, other Doge-related cryptocurrencies will also benefit from the event. One of the most promising is Dogeverse, a new multi-chain meme coin currently in pre-sale.
Dogeverse Raises $1.7M in Three Days, Offers 583% Staking APY
Memecoin enthusiasts will be excited to learn about the latest innovation in the industry: multi-chain functionality. Dogeverse marks the beginning of this phenomenon, interconnecting the six most popular meme coin networks through one powerful project, which starts on Ethereum, BSC and Polygon and will soon be available on Solana, Base and Avalanche.
Currently, Base and Solana are fighting to see who is the leader in memecoin adoption, and this is of tremendous importance for the projects. in the respective chains. However, the Dogeverse doesn’t care whichever chain emerges victorious, as long as it is available. This makes it the most versatile meme currency on the market.
In true meme coin style, it builds a unified community between once-differentiating Blockchain. In fact, this has stoked immense enthusiasm among investors, with the pre-sale raising a staggering $1.7 million in three days.
Adding to the excitement, though, pre-sale buyers can increase their investment by betting. They can currently get an APY of 583%, but this will decrease as the betting pool grows.
To further incentivize early adopters, Dogeverse pre-sale is currently available at a significant discount. However, its price will rise as the campaign progresses, with the next spike in two days, or when it raises $2.6 million.
By Audy Castaneda
