- Dogecoin (DOGE) eyes $1 target with a 132% rally in 2024, but short-term skepticism remains.
- FLOKI corrects by 40%, loses fourth position to PEPE in meme coin rankings.
- Algotech (ALGT) raises $3.6 million, aims to revolutionize trading with AI and machine learning.
The world of cryptocurrency continues its suspenseful ride into the second quarter of 2024. As usual, this week has seen some interesting price movements, with Dogecoin (DOGE) leading the charge, some meme coins experiencing a correction, and a surprise breakout from a lesser-known project. Let’s dive into the details.
Dogecoin on the rise: Chasing $1?
Dogecoin has been on the rise in recent weeks. The Shiba Inu-themed coin is currently trading at $0.18 as of the time of writing. While it is 265% from its all-time high of $0.73 in 2021, the coin has rallied 132% since the beginning of 2024.
This surge is due to renewed interest in meme coins entering 2024 and the plethora of meme coins gaining momentum on popular blockchains.
Considering the bullish sentiment in the markets entering into the second quarter of 2024, there’s chatter within the Dogecoin community about the possibility of DOGE reaching $1 in 2024. However, achieving this ambitious target would require a nearly 5x increase in price, which some analysts consider unlikely in the short term.
Floki loses spot on top 4 meme coins
Floki’s price was corrected by 40% within a week during the general market correction. The reasons why Floki got hit like this remain speculative. However, Floki has made tremendous efforts to bounce back.
FLOKI made big moves in the last 48 hours, rising by an amazing 31%, as shown by a bullish engulfing candle. The positive trend continues into April 1, as seen by a significant intraday increase of 6.63% that is about to cross the $0.00025 barrier.
However, Floki has lost its fourth spot on the top meme coins by market capitalization due to the outstanding rise of Dogwifhat (WIF). WIF dethroned PEPE from third position, pushing it downwards to fourth and Floki fifth. It currently trades at $0.000211 as of the time of writing.
Algotech (ALGT) continues to gain momentum
Meme coins aren’t the only asset class making waves in 2024. Another class making waves are tech-focused and AI-powered assets. Algotech (ALGT) continues to make waves because it falls within those asset classes and has a strategic positioning as a pioneer in a rapidly expanding industry: algorithmic trading.
Critics expected that Algotech would slow down after its successful private seed-raising round, which raised $1.1 million in early February 2024. Fast-forward to April, and the project has gone on to raise over $3.6 million in two presale stages, with the third currently ongoing at $0.08.
Algotech is determined to create a decentralized crypto algorithmic trading platform that democratizes access to sophisticated algorithmic trading tools that were once the privilege of a selected few.
The DeFi project believes more can be achieved in the world of trading and investments if the right innovative and automated tools are available. Therefore, its optimal focus is on building an algorithmic trading solution that combines AI and machine learning to create superior, adaptable trading tools that maximize profitability in any market condition.
To learn more about Algotech, visit the Algotech presale website or join the Algotech community.
