As the meme coin market spearheads the crypto recovery, OG meme-father Dogecoin is causing a stir, having risen over 5% today.
But it’s not just price data drawing hype to the market’s largest meme coin; Dogecoin is currently trending on X, too. So will DOGE continue leading the way into the next meme coin season?
DOGE Rallies But Top Analysts Nod That Higher Gains Ahead
Currently priced at $0.16, analysts tip that much more significant gains await Dogecoin.
While it has enjoyed a 5% rally today, it remains down by 6% this month.
However, prominent commentator Ali Martinez regards the recent retracement as a healthy part of Dogecoin’s higher time frame trajectory and argues that a strong move to the upside will follow.
In a recent X thread, he explained, “The ongoing Dogecoin price correction is part of its usual behavior before massive bull runs.”
Martinez then referenced how Dogecoin retraced by 40% in 2017 and 26% in 2021 before undergoing parabolic bull market rallies.
He notes that Dogecoin has experienced a 47% correction from its local highs and says, “Dogecoin appears to mirror its previous bull cycles! All you need is a little bit of patience.”
Similarly, Trader Tardigrade underscored that Dogecoin’s price action resembles that of previous bull markets. However, based on the analyst’s chart, the market-leading meme coin may face an extended consolidation phase before rallying in Q4 2024.
“Doge is repeating the last cycle’s chart pattern on the weekly timeframe. We will see another massive pump after this consolidation,” he wrote.
Meanwhile, analyst Alex Clay pointed out Dogecoin’s decisive recovery from the recent dip, illustrating a “cup and handle” chart pattern formation and predicting a move toward $0.24 in May.
He also speculates that Dogecoin’s rally will continue into Q4 2024, with its price reaching a high of $0.38.
As such, the market consensus is that Dogecoin is primed for another historic rally. However, analysts are of mixed opinions on when it may occur.
While Ali Martinez and Trader Tardigrade reference its historical market patterns to forecast a potential consolidation phase to occur first, Alex Clay believes it may begin to rally sooner.
But while Dogecoin grapples between a consolidation phase and price upswing, other meme coins are potentially teetering on immediate breakouts.
New presale token WienerAI is experiencing unwavering interest as traders rush to its unprecedented use case.
New AI-Powered Meme Coin WienerAI Surges Past $1M at Presale
Ushering in the gold standard of crypto marketing, WienerAI is a revolutionary AI-powered trading bot masked behind a playful and viral meme coin.
The token recently launched in a presale and has already raised a whopping $1 million, reflecting the unwavering potential of merging crypto’s two hottest narratives.
Its website leads with, “Despite its hilarious sausage-y exterior, WienerAI is the pinnacle of AI trading technology. With girthy, predictive features–WienerAI is a trader’s best friend.”
It also explains that the AI bot will deliver instant, predictive, and noob-friendly trade execution with zero fees.
While this pioneering use case and captivating doge-themed exterior have unleashed massive excitement, the team looks to extend its lead with a staking mechanism, rewarding the sausage army with passive crypto treats.
So far, over one billion $WAI have been staked, reflecting the community’s long-term support.
Currently, stakers can garner a 900% APY, but this will decrease as the staking pool grows.
And further incentivizing early adopters, WienerAI’s presale is currently on offer at a huge discount. 1 $WIA costs $0.000704. However, this will incrementally increase throughout the campaign, so potential buyers should act quickly.
