Dogecoin Hits Rock Bottom – Is a Mega Pump to $10 Next?
The price of Dogecoin has risen by 2.5% in the past 24 hours, with its move to $0.1559 correcting several consecutive days of declines. DOGE still remains down by 0.5% in a week and by 7% in a month, with the meme token also suffering a 1% drop in the past year. These are all disappointing percentages, but one positive today is that DOGE has touched or is nearing bottoms on its chart, indicating a potential rebound. And with the wider market also overdue a strong comeback, it could be only a matter of weeks before the Dogecoin price makes some substantial gains.
Dogecoin Hits Rock Bottom – Is a Mega Pump to $10 Next?
Probably the clearest indicator of a bottom on the chart below is the 30-day average (orange), which has now fallen to a new low in relation to the 200-day average (blue). Normally, when this happens it indicates that the market has oversold the corresponding asset, and that a rebound should be coming soon.
We also see that Dogecoin’s relative strength index (purple) has been below 50 since late January, another sign that it should be due a comeback. Other positive signs include a 2% increase in open interest over the past 24 hours, while DOGE’s funding rate has been positive for a couple of days now after briefly flipping negative on April 15. Looking at the medium- and long-term picture, Dogecoin’s status as a meme token means that it’s largely dependent on the wider market for its gains. And at the moment, the market is still wobbling from the effects of the ongoing tariff war between the US and China, and between the US and much of the rest of the world. While the White House has paused higher tariffs for 90 days for every nation except China, the market could easily slide again if this pause doesn’t lead to some kind of permanent and pro-trade deal. On the other hand, if deals are made, Dogecoin will benefit along with the rest of the market.
As for Dogecoin itself, its only hope remains the remote possibility that X will one day introduce DOGE payments, something which the coin’s community continues to cling to. Assuming an improvement in global trading conditions, DOGE could return to $0.2 in the next couple of months, while crypto payments on X could push it close to $1 by the end of the year.
The Breakout Altcoin Blending Hype With Real-World Value
Given the DOGE’s lack of fundamentals and its current lack of a narrative, many traders may prefer to diversify into alternatives at the moment. This could include presale coins, which, in the right conditions, can build a big following before they list on exchanges, helping them to shoot up in price. This won’t happen with every presale coin, but one token with a good chance of performing well when it lists is Solaxy (SOLX), a new Solana-based project that has now raised $30.4 million.
As Solana’s first layer-two network, Solaxy will offer lower transaction fees and faster confirmation times, while also enabling instant bridging between itself and Solana. This promises to make using Solana and its ecosystem of apps more efficient for traders, with Solaxy aiming to become an important hub for meme tokens and DeFi. Users will need to pay Solaxy’s transaction fees using SOLX, meaning that the latter could experience strong demand once the platform launches. Holders will also be able to stake the token for passive income, something which could raise demand for the coin even further.
You can join SOLX’s presale at the Solaxy website, where the coin is currently available at $0.001696. This price will rise again later today, although its listing in the next few weeks could see it rise even higher.
