Dogecoin (DOGE) and most of the crypto market, including Chainlink (LINK), have come under high selling pressure. It appears they are now wary of the usual buy-the-dip narrative as they fear more losses could occur before the bull market. Currently, investors are moving to safer projects like Pomerdoge which have shown upward price movement.
Can Dogecoin (DOGE) Price Recover?
The leading meme coin, Dogecoin, has been suffering from huge selling pressure in the past few weeks. However, following recent reports that DOGE could be incorporated into X, the meme coin has seen improved sentiment. Currently, the Dogecoin price is trading at $0.06285.
The $0.06200 support is of utmost importance for the stability of the price of Dogecoin. A drop below this level could cause Dogecoin’s price to drop towards the $0.044 and $0.04 zones.
Meanwhile, Dogecoin is trading below all three primary moving averages. This arrangement suggests a heightened chance of more downward movements of Dogecoin. However, a trend reversal could occur if more buyers enter the market and aim for the resistance at $0.07.
Chainlink (LINK) To Launch Staking v0.2
Chainlink is also one of the many cryptocurrencies that saw its price drop over the past day of trading. At press time, the Chainlink crypto was worth about $5.88 after its price declined 0.34%. The price of Chainlink is down by 5.01% over the past seven days.
The price drop comes despite the recent announcement that Chainlink will launch a new update for its staking ecosystem, Staking v0.2. According to the announcement, Staking v0.2 will increase the staking pool from 25 million to 45 million and hence reduce the supply of Chainlink.
Consequently, this could lead to increased demand for Chainlink and a potential increase in price for the Chainlink coin. Crypto experts have predicted that Chainlink could end the year trading as high as $7.5 per coin.
Pomerdoge (POMD) Increases To $0.01, Prepares for Price Surge
While Chainlink and Dogecoin are battling selling pressure, Pomerdoge (POMD) has skyrocketed from $0.009 to $0.01. Pomerdoge is poised to unveil an interactive play-to-earn gaming ecosystem. The project has swiftly amassed over $1.8 million in funding, a sign of its huge potential.
Price Increasing!!— Pomerdoge (@pomerdoge) September 4, 2023
We are now over 75% sold out of Stage One and its looking extremely likely that the first stage will sell out early! THE PRICE WILL INCREASE TO $0.014 ON FRIDAY THE 8th of September At 19:00 UTC
You can sign in to your account at anytime via… pic.twitter.com/rvdthjcACy
Pomerdoge is strategically positioning itself for competitiveness within both the cryptocurrency and gaming landscapes. One central part of its forthcoming ecosystem is Pomergame. This will be a play-to-earn cryptocurrency game that will reward players for their time and allow them to build their avatars.
Additionally, Pomerdoge will debut Pomerplace, a dedicated marketplace designed to facilitate the exchange of skins and invaluable in-game assets. This dynamic marketplace will also double as an arena where fierce competitors can engage in thrilling clashes. Furthermore, Pomerdoge’s commitment to user security is unwavering. Notably, SolidProof and Cyberscope have audited the platform’s smart contracts.
Additionally, Pomerdoge has implemented measures to prevent a rug pull. This includes the locking of liquidity and team tokens. The Pomerdoge token, POMD, available at just $0.01, is a good investment opportunity for investors. Analysts have forecasted a remarkable 17x increase in the upcoming months for Pomerdoge.
Find out more about the Pomerdoge (POMD) Presale Today:
Telegram Community: https://t.me/pomerdoge