The Future of the Largest Memecoin on the Market
The value of Dogecoin ($DOGE) has shown encouraging gains but also signs of possible warnings. Despite having experienced some advances, the question remains whether $DOGE will be able to maintain this pace.
Investors are paying attention as the currency approaches significant resistance points. The next movements could determine the future of the biggest memecoin on the market.
Simultaneously, there are signs that $DOGE may encounter obstacles in preserving its recent strength. The next few days will be decisive in defining the short-term direction of $DOGE. Meanwhile, a new pre-sale has stood out by offering unified staking of memecoins.
$DOGE BBTrend Reaches All-Time High
Since May 2024, $DOGE's BBTrend has surpassed 15, signaling a major bullish milestone. This resulted in an upward trend in the market, favoring $DOGE with elevated buying interest and volatility.
However, after this growth, BBTrend began to decline, indicating that the trend may be going through a difficult period. BBTrend is a technical indicator that assesses the intensity and persistence of price movements by examining price changes in Bollinger analysis.
If $DOGE's BBTrend continues above 12, it may indicate that $DOGE has the potential to sustain its upward trend. However, the recent decrease in the 15-point mark raises doubts about this.
While a BBTrend above 12 is commonly a bullish sign, this small decline could suggest that $DOGE's value is beginning to decline, possibly beginning a consolidation phase or losing its strength after an extended time frame.
Therefore, it is essential to follow the trajectory of $DOGE. Mainly to find out if memecoin will be able to maintain its price increase or if new drops in the indicator show a market change, which could indicate the end of its upward trend.
$DOGE ADX indicates the trend is weakening
Currently, $DOGE's ADX is at 33.68. It is still below the peak of 45.69, seen recently. This indicates that the trend is falling and the value of $DOGE may start to decline.
The ADX is a fundamental indicator used to assess the strength of a trend, regardless of its direction. A value greater than 25 signals a strong trend, while a value less than 20 indicates a more bearish market.
High values, such as 45, signal a strong trend. The current interpretation of the ADX indicates that the upward trend is intensifying, and if it persists, it could signal a possible reversal or consolidation stage.
Currently, the $DOGE EMA lines are in an upward trend, showing a 30% increase in price as a result of a golden cross between the short- and long-term EMAs. This could indicate that the value of $DOGE has started to decline.
EMA lines are attaching greater importance to recent prices, helping market traders recognize trends more carefully.
In the case of $DOGE, the first EMAs initially signaled a strong uptrend. However, with the rise of the short-term EMA, a change in market perception may occur.
$DOGE has been encountering obstacles to overcome the major barriers of $0.135 and $0.128. This could influence the chance of reaching US$0.14.
However, the strength of ADX indicates that the uptrend is weakening as other memecoins gain more prominence. Even so, the value of $DOGE may increase to $0.098 or even $0.089 soon.
Crypto All-Stars ($STARS) could be an alternative
The Crypto All-Stars ($STARS) is another pre-sale with great potential in October. With fundraising exceeding US$1.9 million and tokens sold for just US$0.0014769, investors began to show interest in this project.
Crypto All-Stars stands out mainly for the unified staking of memecoins through MemeVault. This will enable investors to earn profits by staking several popular memecoins, such as $DOGE, $PEPE, $SHIB, and $FLOKI.
These prizes are credited in $STARS, the exclusive Crypto All-Stars token. The project is standing out from the competition by providing a “hub” for staking memecoins.
The tokenomics of the project is also interesting. A 20% portion of the $STARS supply was allocated for pre-sale. Another 25% was allocated to pre-sale staking, 20% to marketing and 10% to CED/DEX.
Just like what happened with Pepe Unchained, some influential personalities are starting to pay attention to Crypto All-Stars. Experts at 99Bitcoins, a global leader in cryptocurrency education, recently called it a “precious pre-sale gem.”
Therefore, Crypto All-Stars, with its strategy to unify memecoin staking, is a presale that may be interesting to consider in October.
Disclaimer: This article is for informational purposes only, and does not constitute investment advice or an offer to invest. CriptoFácil is not responsible for any content, products or services mentioned in this article.