Dogecoin price surged 9% to $0.2046, marking a 21% increase over the week. Technical analysis suggests continued bullish momentum. Concurrently, a new meme coin, BTC Bull Token, was launched, attracting investors with incentives such as Bitcoin airdrops and significant presale interest exceeding $4.1 million.
Dogecoin (DOGE) has experienced a 9% surge in value within a 24-hour period, now trading at $0.2046 as of 6:05 a.m. EST. This increase is part of a larger bullish trend, with DOGE gaining over 21% in the past week. The current trend indicates strong market interest in this popular meme coin, elevating its market cap significantly.
In the last 48 hours, the DOGE price has achieved multiple higher highs and lows on the 4-hour chart, leading to a bullish price channel formation. If DOGE can maintain its position above the resistance level of $0.2055, it may support a move up to approximately $0.2134. Conversely, a failure at this level could see prices drop to $0.1964 or potentially further to $0.1885 if the bearish pressure increases.
Technical analysis using Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) indicates bullish short-term momentum for Dogecoin. The 9 EMA has risen above the 20 EMA, indicating positive momentum, while the RSI points to increased buying activity. Currently, the RSI indicates overbought conditions, suggesting potential sell signals, although sustained high readings are not uncommon during strong bullish runs.
Additionally, traders are exploring opportunities in a new meme coin, BTC Bull Token (BTCBULL), projected for significant gains. Notably promoted by 99Bitcoins, BTCBULL aims for a 10x increase post-launch, incentivising token holders with Bitcoin airdrops as Bitcoin price surges.
BTC Bull Token is designed to reward investors with free Bitcoin as Bitcoin approaches significant price milestones, starting with triggers at $150k and $200k. Moreover, the project plans to conduct token burns, enhancing scarcity as Bitcoin increases in value.
During its presale, BTCBULL has raised over $4.1 million, capturing significant investor interest. Tokens are priced at $0.00243, and buyers are encouraged to purchase before prices rise again within two days. Investors can buy tokens easily via the project’s website, with an attractive APY of 103% available through staking for presale participants.
