Dog coins are back on top as Dogecoin and Dogwifhat recover their recent losses. Both cryptos are at break even this week, while Dogwifhat has pumped 15% today.
But amidst the excitement, a new multi-chain sensation is rising. The project is called Dogeverse and has raised a staggering $250K in its opening minutes.
Dogecoin and Dogwifhat Show Strength as Analysts Say Next Leg Up Is Imminent
Dogecoin and Dogwifhat have recovered amid a broader market display of strength today, with the total crypto market cap jumping by 3.5%.
However, with the recent pullback out of the way, analysts believe meme coins could be primed for the next leg up.
Currently, Dogecoin is trading at $0.2, up 1% today while at break even this week, up 17% this month, and 143% this year.
Its current market cap is $29 billion, making it the eighth-largest cryptocurrency. Meanwhile, its 24-hour trading volume is $2.4 billion, up 6% today.
Esteemed analyst Rekt Capital noted that Dogecoin’s recent pullback marks a breakout retest on the monthly time frame. He suggests that this means DOGE will continue to climb in the long term.
The analyst explained, “Dogecoin is currently in the retesting phase of the red $0.20 level on the monthly timeframe.”
He continued, “This recent downside wick on the monthly is essentially a retest of the bull flag on the weekly. Dogecoin is still following the plan.”
Meanwhile, Cold Blooded Shiller analyzed the DOGE:BTC weekly time frame price chart and said it makes him want to “double down” on Dogecoin, alluding that it looks primed to pump.
The analyst illustrates that Dogecoin has recently reclaimed a critical level against Bitcoin, which could enable it to drastically outperform the market leader, similar to the 2021 bull run.
Meanwhile, analysts also believe Dogwifhat is primed for a bullish trajectory. Currently, WIF is trading at $4.2, up 15% today, 1.9% this week, and 83% this month. It holds a $4.1 billion market cap, making it the 30th largest cryptocurrency and its 24-hour trading volume is $711 million, up 50% today.
Cold Blooded Shiller recently backed WIF for an uptrend continuation. He made the prediction when the price was $3.7 and praised WIF for its text-book price action.
“If you’re looking for simplicity in executing positions, then $WIF on the 12-hour chart in a raging uptrend is probably the best you’re going to get,” he wrote.
Indeed, the price action of Dogecoin and Dogwifhat indicates another leg up may be on the horizon. However, the new meme coin Dogeverse is also poised for an explosive trajectory after raising $250K in the opening minutes of its ICO.
New Multichain Meme Coin ICO Dogeverse Skyrockets $250K in Minutes
Transcend between portals of the cryptosphere with the new crypto ICO Dogeverse, the first Dogecoin-inspired cryptocurrency to go multi-chain.
Available on Ethereum, BSC, and Polygon, the blockchain’s new furry friend will also be available on Solana, Avalanche, and Base chain soon.
Absorbing the industry’s hottest on-chain meme coin markets, it’s no wonder investors are snapping up the token presale.
The new crypto ICO has already raised $250K since its thedogeverse.com website went live, indicating that smart money is on board and expects a big takeoff once it launches on exchanges.
As a vanguard of the cryptosphere, Dogeverse’s multi-chain approach appeases all meme coin communities, providing ubiquitous accessibility and settling the disputes over which blockchain has better meme coins.
Adding to the excitement, Dogeverse offers a staking mechanism, allowing holders to grow their portfolio with passive rewards. Staking is already live and offering a generous yield.
Currently, stakers can garner a five digit APY, but this is on a strict first-come, first-served basis, with rewards shrinking as the staking pool grows.
And in a two-pronged approach to rewarding early adopters, the Dogeverse ICO price is currently discounted. However, it will incrementally rise as the campaign advances.
Those who buy now can get the lowest-ever price, but it will increase in three days so they must be fast.
