Dogecoin prices are up 3% in the past 24 hours and 26% in the past week, currently trading at $0.392 per coin as of 2:25 a.m. ET. Trading volume increased 3% to $28.1 billion.
DOGE price is now trapped between the $0.40 resistance and $0.38 support, awaiting a new push that will take it sharply higher, or a correction to break the support.
Dogecoin Price Prediction
Currently, Dogecoin’s technical indicators suggest that the price of the oldest meme coin has found stability, at least temporarily. Its Bollinger Bands have been following a pattern of suddenly widening, bringing about a rapid price increase, then narrowing and briefly stabilizing for a period of time before the same thing happens again.
This pattern has been recorded three times in the past two days, during which the price fluctuated between the upper and lower Bollinger Bands multiple times. Each new price increase pushed the upper Bollinger Band lower, and the correction only brought it down to the point where it touched the lower Bollinger Band, after which the price would rise again.
On the other hand, the project’s Relative Strength Index (RSI) value also had strong fluctuations, although it managed to rise or fall to the overbought or oversold areas several times.
This suggests that traders are likely watching the RSI closely and acting based on its performance, as it has neither broken above the 30 line nor the 70 line in the past 30 hours or so.
Except for the strongest swings on the edge of overbought and oversold areas, the fluctuations are quite small, from 45 to 55 and back and forth.
Going forward, this pattern could repeat itself and Dogecoin could rise again after the recent minor dip and contraction of the Bollinger Bands. Alternatively, the market could cause it to break out in either direction, depending on if there is a significant change in sentiment.
Promising Dogecoin Alternatives
Traders looking for diversification opportunities might consider Flockerz (FLOCK), a memecoin in its presale phase with just 15 days left. This popular initial coin offering (ICO) just surpassed $9 million in fundraising.
Let your group flag fly!
Raising $9M is no small feat! The crowd is working hard to push Flocktopia! pic.twitter.com/Ad8c15xPFi
— Flockerz (@FlockerzToken) January 7, 2025
The project is often referred to as a voting cryptocurrency thanks to its novel vote acquisition model. As the name suggests, the project has created a model where when people who hold its tokens participate in community governance and vote on one of the proposals, they will be rewarded in the form of FLOCK tokens.
By incentivizing the community to participate and re-engage in the voting process, Flockerz hopes to ensure lasting decentralization. This is something many projects fail to do because their communities lose interest.
To ensure this doesn’t happen, Flockerz intends to continue to incentivize users to return. In addition, it offers an annualized staking return of up to 301%, so those who vote to earn new FLOCK tokens can earn more by staking their earnings.
However, to start this infinite cycle and earn more, you must become a holder of FLOCK tokens, which means you must buy the first batch of FLOCK.
Now, FLOCK tokens are selling for $0.0066351 each. ClayBro, a cryptocurrency YouTuber with more than 134,000 subscribers, recently said that FLOCK could see a 100% increase after it goes live.
Click here to visit FLOCK.
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