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Simon Chandler
Author
Simon Chandler
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The Dogecoin price has risen by 2.5% today, returning to $0.1973 as the cryptocurrency market holds steady in the past 24 hours.
DOGE is now up by 24% in a week and by 81% in the past month, with the meme token also sitting on a very healthy 161% increase in a year.
The past few days have seen the coin surge in response to Donald Trump’s election victory, yet it has struggled to consolidate above the key $0.20 resistance level.
But if it can break through this threshold in the next few hours, it could go on to have a very strong weekend, not to mention a bullish end to the year.
Dogecoin Price Nears Critical Level – $10 Target If Bulls Hold the Line
DOGE hit a seven-day high of $0.2085 in the hours following Donald Trump’s election victory, which has propelled the entire cryptocurrency market upwards.
This price is also actually its highest level since the end of March, when it surged to around $0.22 following remarks from Elon Musk that Tesla would begin accepting payments in DOGE at some point in the future.
Yet it has struggled to remain above $0.20 in the couple of days since the election, although its chart suggests that it’s gearing up for another attempt.
Its current price has very recently overtaken its 30-period average (orange), a sign of a more bullish turn.
We also see DOGE’s relative strength index (purple) climbing back above 50, a sign that buyers are coming in again to push the token’s price upwards.
Its volume remains elevated at $4.4 billion, which represents a 550% increase over the past month.
As such, demand for DOGE remains high, with the token witnessing a few big buys from whales in the past few days.
Based on all of this, the Dogecoin price is likely to reach $0.22 by the end of the weekend, before hitting $0.25 by the end of November.
And if we hear further news specifically relating to Elon Musk’s involvement in the new Trump administration over the coming weeks, the price could surge even higher, potentially reaching $1 at some point next year.
More bullish traders are even targeting the much-desired $10 price zone, which is a long shot, but nothing is impossible in the world of crypto.
Dog Coins, Cat Coins, and Frog Coins Taking Off – This Bird Coin Next?
For traders wanting to avoid more saturated and mature tokens such as DOGE, there are several high-potential alternatives to look at right now.
This includes not only new meme coins such as Department of Government Efficiency (DOGE) and Fwog (FWOG), but new presale tokens that could explode when they list for the first time.
Of all such coins in the market at the moment, one with very good potential is Flockerz (FLOCK), an ERC-20 token that has raised over $1.3 million in its ongoing sale.
Flockerz has the distinction of being the first vote-to-earn token in the market, enabling its holders to earn rewards for voting on governance and update proposals.
Given that all governance decisions will be put to the community, holders of FLOCK could therefore end up earning a tidy sum from the new coin.
Not only that, but holders will be able to stake the token, earning a passive income on top of any governance rewards.
FLOCK boasts a capped supply of 12 billion, with 20% of this going to the sale, 25% to staking, and another 25% to governance rewards.
Investors can join FLOCK’s presale by going to its official website, where they buy the coin at a price of $0.0059571.
The presale will have 50 stages, meaning this price will rise numerous more times before the sale ends.
Traders should therefore get their skates on if they want to make the biggest possible profit, with FLOCK on course to have a big opening.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
