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As of 03:23 AM EST, Dogecoin price has risen by 5% in the past 24 hours to $0.2018, and trading volume has increased by 51% to $5 billion.
This is because Coinbase Derivatives plans to launch cash-settled Dogecoin, Litecoin, and Bitcoin spot contract products on April 1.
Coinbase’s move is based on the belief that Dogecoin’s longevity in the crypto space transcends its origins as an internet meme, as it has become a significant asset in the industry.
Coinbase Derivatives to Launch First Leveraged and CFTC-Regulated Futures Contracts for Bitcoin Cash, Dogecoin, and Litecoin in April!
Stay tuned to find out when these contracts will be available for trading on our partner platforms.
Dogecoin price surges within an ascending channel
DOGEUSD chart analysis Source: Tradingview.com
Dogecoin price surged 31% this week, allowing DOGE to break out of the limits of the ascending channel pattern.
In March, DOGE hit a yearly high of $0.21 before retreating to the support zone at $0.127. Fluctuations within this range formed a head and shoulders top pattern, with the right shoulder providing a breakout point at approximately $0.14.
DOGE is well above the 50-day and 200-day simple moving averages (SMAs), which confirms the bullish sentiment in the price.
Furthermore, the relative strength index (RSI) on the 1-hour timeframe is trading near the overbought level of 64 and is rising. If bulls remain resilient, the RSI could surge to overbought levels, which would suggest strong buying pressure.
Dogecoin Price Prediction
According to Dogecoin price analysis, DOGE could surge to the upper boundary of the ascending channel and reach as high as $0.24. The bulls aim to use the movement in the RSI and the golden cross formed at $0.15 to drive the price further upward.
If the bulls take control of the price at this level, DOGE could experience a downtrend. Potentially, it will pull back to the support level of $0.166, which coincides with the 200-day SMA. If the price breaks above this level and reaches $0.14, the bullish outlook for DOGE will be negated.
Meanwhile, as the price of Dogecoin soars, you might want to buy its replacement, Dogecoin 20, which will be launched on International Doge Day, April 20. Its presale has sold out after raising more than $10 million in a short period of time, but the team is now extending the chance to buy it one last time.
Dogecoin 20: Best Alternatives to Buy Dogecoin Right Now
Dogecoin 20 (DOGE20)
Taking Elon Musk’s favorite meme coin, Dogecoin, to new heights, it has increased utility for its holders by integrating proof-of-stake on Ethereum.
Through the power of Ethereum’s smart contracts, Dogecoin 20 goes beyond the boundaries of traditional memecoins.
Bringing unlimited passive income to the crypto community!
Optimize the power of your $DOGE20 tokens by participating in Proof of Stake and earning rewards.
pic.twitter.com/m7ENKRvKSR
— Dogecoin 20 (@DOGE_COIN20)
March 26, 2024
The project is also a more functional and greener version of Dogecoin, upholding the ethos of “doing only good things every day.”
Dogecoin 20 is a more environmentally friendly and adaptable version than the original Dogecoin as it runs on Ethereum’s proof-of-stake network.
As an ERC-20 token, it can be easily adapted to any reputable self-custodial wallet for convenient storage.
pic.twitter.com/qkYXjlcnjY
— Dogecoin 20 (@DOGE_COIN20)
March 20, 2024
As the first upgraded version of the Dogecoin series, Dogecoin 20 looks capable of surpassing the success achieved by Dogecoin and DOGE itself.
At launch, Dogecoin 20 is one of the top five cryptocurrencies currently on the market, according to data from 99Bitcoins, with the potential to rise 100x at launch.
Since the development team has extended the duration of the pre-sale, interested investors should act quickly as the extension may end at any time.
To participate, you can purchase DOGE20 tokens at a price of $0.00022 through the official website. You can pay with ETH, USDT or a bank card.
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