New generation SHIB P2E coin breaks through $500,000 Dogecoin price prediction DOGE rises 4

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As of 4:50 a.m. ET, Dogecoin price has risen 4% over the past 24 hours to trade at $0.1089, with trading volume up 14% to $846 million.
The recovery in DOGE’s price follows a sharp drop last week, which was followed by a similar surge over the weekend.
DOGE also released its first X-account since May, highlighting a recent article that showcases its real-world use as a means of exchange for the general public.
According to the project, it is intended to be a simple means of exchange rather than one centered around the pursuit of gain.
While many crypto projects pursue yield, Dogecoin aims to be a simple means of exchange for the general public. Shibes around the world are using Doge for real purposes.
https://t.co/xUgGDVbnFY
– Dogecoin (@dogecoin)
July 8, 2024
Dogecoin Price Prediction
After seeing a price drop last week, the dogecoin price saw a strong rebound on Friday, which brought it to $0.114 on Saturday night. However, over the next 24 hours, the price pulled back to $0.10 before rising again in the early hours of Monday, July 8.
Currently, the memecoin’s technical indicators are showing very positive performance, almost urging traders to join the bull run and buy in. However, like all dramatic rallies, this one is also likely to lose momentum in the near future.
The Bollinger Band for this project has expanded significantly, with prices continually pushing the upper band upward.
Meanwhile, the DOGE Relative Strength Index (RSI) value has surged to 79.77 as of the time of writing, showing that traders are buying in large numbers, which is what is driving the price recovery.
That being said, those who make trading decisions based on this indicator may soon decide that it is time to cash in profits, which could disrupt the move higher and lead to a new pullback. In other words, a situation similar to what we saw last Sunday could happen again, especially as DOGE is once again approaching the $0.12 resistance level that rejected its price about 24 hours ago.
Of course, if the new rally is strong and widespread enough to eliminate these concerns among traders or overwhelm those who decide to take profits, and there are new buyers who continue to push prices higher, then the rally could continue.
At this point, it is difficult to say more with a higher degree of certainty, DOGE’s encounter with the $0.12 resistance level will show what happens next.
Promising Dogecoin Alternatives
Since a potential correction in DOGE’s price could happen soon, it is relatively risky to buy the coin now. However, for those who wish to play it safe, there are some alternatives available, such as Shiba Shootout (SHIBASHOOT), the latest high-potential ICO project in the memecoin space.
This is a brand new project that only launched its presale last week, which means that its ICO is still in its early stages. Despite this, it has already managed to raise over $570,000.
As the name suggests, Shiba Shootout is a dog-based memecoin developed on Ethereum and Binance Smart Chain. It combines Doge memes with a western vibe to explore new frontiers in the current memecoin space.
It introduces characters including Shiba Sheriff and Shiba Sharpshooter, and a location - the town of Shiba Gulch, a busy digital settlement where Shiba enthusiasts participate in challenges, share memes, and immerse themselves in the excitement of the Shootout.
The token has many practical ideas, including staking, and is intended to be a testament to innovation, creativity, and the spirit of the West.
Shiba Shootout has already caught the attention of a major crypto YouTuber, ClayBro, who has over 130,000 subscribers. The expert believes the project could bring as much as 20x returns after launch.
SHIBASHOOT tokens will be sold at $0.0195 each, a price that will last for nearly six days before the price increases. In other words, you have a week to buy SHIBASHOOT at the best price using ETH, BNB, USDT, or a credit/debit card.
Visit the official SHIBSHOOT website.
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