Dogecoin Price Outperforms Shiba Inu, Pepe, Dogwifhat and Other Top Meme Coins

The meme coin frenzy that was booming in late February and early March has cooled off not too long ago amid a broader crypto market correction. Nevertheless, this week, we’ve got a transparent winner amongst meme cash, and that’s the meme coin king – Dogecoin (DOGE).

Dogecoin has outperformed all different main meme cash, akin to SHIB, WIF, BONK, PEPE, and FLOKI, this week. DOGE is up 19%, whereas SHIB has gained 11%, PEPE 6%, WIF 4.9%, and FLOKI 15%. Alternatively, BONK has really declined by 12%.

Dogecoin Worth Prediction & Evaluation 

At press time DOGE is buying and selling round $0.17. On the DOGE/USDT chart, we are able to see that DOGE broke out of the sideways channel in late February and commenced its pump from the $0.09 ranges to $0.20. Previous to this week’s pump, Dogecoin skilled a retracement from its earlier highs, dipping to the $0.14 space earlier than regaining momentum and surging to present ranges.

Dogecoin worth chart – each day timeframe

So, breaking the $0.20 stage is the following logical goal that may very well be predicted for the DOGE worth. 

The Relative Energy Index (RSI) is at present at 59, indicating that the asset isn’t but overbought and has room for additional upside.

Moreover, the Transferring Common Convergence Divergence (MACD) line continues to be under the MACD sign line. Nevertheless, primarily based on the chart’s bullish pattern, the MACD line can quickly cross above the MACD sign line, which is usually a powerful purchase sign.

Wanting forward, if Dogecoin can maintain its bullish momentum and break by way of the essential $0.20 resistance stage, it may pave the way in which for additional upside. The subsequent main goal for DOGE bulls would doubtless be the $0.25-$0.30 vary, which represents a powerful psychological barrier and a stage not seen since 2021 bull run.

Nevertheless, any potential setbacks, market crashes, or profit-taking may see DOGE retrace to its assist round $0.14-$0.15 within the brief time period.

SHIB and FLOKI are inclined to Comply with DOGE 

The surge in Dogecoin’s worth has caught the eye of SHIB KNIGHT, a famend meme coin analyst boasting over 400k followers on the social media platform X, previously generally known as Twitter. In line with SHIB KNIGHT’s observations, Dogecoin’s 16% acquire on the day signifies the return of the “canines” within the crypto market.

SHIB KNIGHT believes that the performances of meme cash like Shiba Inu (SHIB) and Floki Inu (FLOKI) are more likely to comply with swimsuit, as they have an inclination to expertise extra substantial rallies when Dogecoin pumps. The analyst additionally highlighted Floki Inu’s potential, stating that it “is wanting good with the discharge of its new roadmap yesterday.”

$DOGE is up 16% immediately 👀️️🔥️️️️

The canines are backing and it’s only a matter of time earlier than $SHIB and $FLOKI follows, as they have an inclination to comply with #doge and transfer more durable when it rallies.#FLOKI is wanting good with the discharge of its new roadmap yesterday. https://t.co/KAxutYrgbl pic.twitter.com/eMQ54HuYAI

— $SHIB KNIGHT (@army_shiba) March 23, 2024

This take means that SHIB and FLOKI are inclined to comply with DOGE’s pumps, so merchants ought to in all probability hold this in thoughts within the upcoming days and weeks.

Greatest Meme Cash to Purchase Now

SMOG is a dragon-themed meme coin that has quickly gained reputation within the crypto market as a result of its attention-grabbing narrative, viral airdrops, multi-chain infrastructure, and community-building initiatives. 

Dogecoin20 is a brand new meme coin that goals to supply an improved model of Dogecoin by combining meme tradition with staking rewards. It has raised $7 million in presale already, with a give attention to passive rewards for traders who stake DOGE20 tokens. 

SpongeV2 is an upgraded model of the unique Sponge meme coin, aiming to construct on the success of its predecessor. It introduces a “Stake-to-Bridge” setup that hyperlinks it to the unique SPONGE ecosystem.

All in all, the meme coin mania has cooled off this week, however Dogecoin has emerged because the clear winner this week, outperforming different main meme cash. With its robust momentum and bullish technical indicators, an optimistic Dogecoin worth prediction may very well be that its rally continues past $0.25, probably additionally influencing the efficiency of different meme cash like SHIB, FLOKI, and others.

Moreover, new meme coin initiatives like SMOG, Dogecoin20, and SpongeV2 are nonetheless in early phases, however these memes provide attention-grabbing narratives and utilities which makes them top-of-the-line meme cash to spend money on now.

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