JAKE token plunged 45% in the past 24 hours, trading at $0.001254 per token, accompanied by a 15% drop in trading volume. Meanwhile, market sentiment is shifting from dog-themed tokens to cat-themed tokens, with Ansem's Cat (HOBBES), CateCoin (CATE), and BananaCat (BCT) rising 16%, 10%, and 29%, respectively.
Traders are also taking profits after the JAKE token was listed on multiple exchanges including LBank and XT.com. Get ready for some exciting moves!
The market is leaning towards more price declines as JAKE token is showing significant resistance. Multiple technical indicators are also showing signs of a bear market, starting with the Relative Strength Index (RSI), which is below the 50 average.
The Moving Average Convergence Divergence (MACD) indicator is also in the negative territory, pointing to a strengthening bearish cycle.
Increased profit-taking could lead to a further drop in the price of Jake the Dog. This speculation is reinforced by the fact that the token’s trading volume indicators are also decreasing, a sign of growing bearish sentiment.
However, if the bulls take the opportunity to buy the pullback, the price of Jake the Dog might recover. While it would be an ideal scenario to flip the $0.005010 roadblock into support, the bearish thesis can only be negated if the JAKE price successfully breaks above the $0.008000 high.
Meanwhile, investors are flocking to DOGE20 as the last chance before International DOGE Day on April 20. Its presale sold out after raising $10 million.
On the eve of last year’s International DOGE Day, Dogecoin gained 50%, sparking optimism around the largest meme coin by market capitalization.
With this year’s DOGE Day still more than two weeks away, people are looking forward to another Dogecoin rally. This provides the perfect backdrop for Dogecoin20 to potentially break out when it goes live on decentralized exchanges on April 20.
The Dogecoin craze may also restart during the countdown to the International DOGE Day. Therefore, DOGE20 (the token of the Dogecoin20 project) is a solid alternative to JAKE.
According to YouTube channel Crypto Gains, Dogecoin20 is currently one of the hottest meme coins on the market.
Dogecoin20 is designed to be an improved version of Dogecoin. It solves DOGE’s weaknesses and provides new opportunities for those who missed its skyrocketing opportunity. This is also a big reason why its presale sold out its $10 million quota in the blink of an eye.
Dogecoin20 introduces on-chain staking to the Dogecoin ecosystem, providing ordinary investors with an option for passive income. Even those who purchased during the presale can stake their tokens and start earning rewards, with the current annualized rate of return being 61%.
The supply of Dogecoin 20 tokens is fixed, with a maximum of 140 billion tokens. This helps address inflation issues while increasing investor confidence.
The project’s white paper proposes a transparent distribution plan that focuses on fairness and community engagement. 25% of the token supply is reserved for the presale, ensuring fair access to early backers.
Another 25% is used for marketing, of which 15% is used for staking rewards to encourage token use. In addition, 10% is used to provide liquidity on decentralized exchanges to make transactions smoother.
The remaining quarter is allocated to the project's reserve, ensuring its long-term sustainability and funding future needs. In addition, as an ERC-20 token, Dogecoin20 is compatible with a variety of Ethereum-based wallets and platforms, making it easy for newcomers to participate in token trading.
The pre-sale tokens are now sold out after reaching the $10 million hard cap, and the potential for exponential growth after the launch is undeniable, with crypto YouTuber Jacob Bury for example predicting a potential 100x increase.
DOGE20 is priced at just $0.00022 and can be purchased using ETH, USDT, or a bank card. BNB is also available as a payment option.
Visit here to buy DOGE20.
Also read:
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