Dogecoin (DOGE), the world’s largest meme coin, has seen its price stagnate over the past year as newer market entrants offered the opportunity for higher returns.
However, one analyst remains bullish on DOGE, backing it to hit the $0.10 level again if market conditions improve.
Meanwhile, presale coin Meme Kombat (MK) is already receiving forecasts of 100x potential returns from prominent crypto influencers ahead of its Uniswap debut.
DOGE Price Crumbles as Technicals Point to Further Downside
Despite its popularity and status as a pioneer in the meme coin space, Dogecoin has struggled to maintain positive momentum in recent weeks.
After hitting a high of $0.107 in December on the back of strong retail interest, DOGE has crumbled by over 23% to its current price of $0.082.
Before last week, DOGE had posted four bearish weekly closes in a row – the coin’s worst run of form since August.
From a technical perspective, DOGE looks to be heading for more downside, trending firmly below its 50-day exponential moving average (EMA) on the daily time frame.
Trading volumes have also declined significantly, down 10% over the past 24 hours, indicating waning interest in the coin.
Once an unstoppable force in the crypto market, DOGE is now nearly 90% below its May 2021 all-time high and shows little signs of staging a comeback in the short term.
Prominent Crypto Analyst Forecasts Dogecoin Rebound to $0.10
Although Dogecoin has been struggling, not everyone is counting out the OG meme coin just yet.
Prominent analyst @ali_charts on Twitter has backed DOGE to rebound from current levels, predicting a rise back to $0.10.
According to Ali, Dogecoin printed an optimistic TD Sequential buy signal on its 3-day chart recently.
The TD Sequential indicator attempts to identify market bottoms and endings of downward corrections – potentially signaling a bullish reversal for DOGE.
As per Ali’s analysis, if DOGE can maintain support around $0.074, it stands a “great chance” of rebounding to $0.10 or higher.
This would represent a 23% price surge from current levels.
Ali’s bullish prediction will be warmly received by DOGE holders, who have endured a rollercoaster ride of late.
Despite Dogecoin’s recent dips, these holders have remained firmly behind the coin and could be in line to see the coin’s value rise if Ali’s analysis proves accurate.
Presale Meme Coin Meme Kombat Receives 100x Post-Launch Price Prediction
As Dogecoin struggles to regain bullish momentum, a new meme-themed crypto project is stealing the spotlight.
Meme Kombat (MK), a play-to-earn platform centered around AI-powered meme battles, has taken the presale market by storm in the past few months.
Demand for the MK token has exceeded expectations, with the presale bringing in over $6.9 million in funding.
Early investors can buy MK tokens for $0.279 during the presale, although with it now in the final stage, this represents the last chance to get in at a discounted rate.
The impressive presale funding has caught the attention of several prominent crypto influencers.
Michael Wrubel, an altcoin analyst boasting over 310,000 subscribers, recently released a video claiming MK could surge over 100x after its upcoming exchange listing.
According to Wrubel’s analysis, Meme Kombat’s real-world utility and massive community engagement could lead to exponential growth.
If even remotely accurate, Wrubel’s prediction could result in colossal returns from MK’s current presale price.
Other YouTube analysts, such as Cilinix Crypto, have also given bullish price forecasts for MK.
With more than 16,500 people now following Meme Kombat’s Twitter account, the project’s momentum shows no signs of slowing down.
As such, Meme Kombat has positioned itself as a potentially explosive contender in the meme coin space as Dogecoin struggles.