Dogecoin faces a 60% downswing as meme coins trend lower
The price of dogecoin has dropped even faster in the last week than it did before. The cryptocurrency is trying to gain speed in a slow but steady way, but the gains over the last 24 hours have been, at best, small. But if you think about DOGE, in the long run, it has a big problem. In the next few weeks, the value of the coin could fall by as much as 60%. If you are interested in crypto trading, you may consider knowing about El Salvador And Crypto.
How the DOGE can keep these shares from being sold
There are two ways to stop DOGE from losing a lot of value in the near future. For the price to go much higher than one cent, people will have to want to buy the currency. If something like this happens, there’s a good chance we’ll see a longer-lasting upward trend, which will limit the downside by a lot. But the way the market is right now makes us think that the price of the coin won’t go up above one cent.
Second, Dogecoin must continue to be supported at $0.048. Since the currency is already more than 20% above this level, it shouldn’t be too hard to reach this goal. If the market’s widespread weakness keeps getting better, it’s possible that more consolidation will happen above this price.
But it’s still possible that neither of these things will happen. After all, a downward trend has already set in on the market. Because of this, it is likely that the price of DOGE will fall by 60% from where it is now, failing to hold at the $0.048 support level. Find out what all the fuss is about with Meme Coins.
Even though cryptocurrency has gotten a lot of attention on social media, meme coins are the most popular thing on the internet right now. These are usually used to spread the word about new blockchains.
Meme coins are not only very popular, but they have also done well over the past few years. This is because things that spread quickly across the internet, like trends, memes, and other things, could make the tokens more valuable.
There are many examples of meme coins that took advantage of a short-lived trend. The element Omicron, which was named after the COVID19 variant, is an example of this.
- GM Wagmi
Since it came out in November 2021, the GM Wagmi meme token has been a huge hit. It is based on the popular “gm” meme that went viral on Crypto Twitter and other social media sites in 2021. “GM” Wagmi got its name from the popular “gm” meme.
The GM token has been able to take advantage of how popular the “gm” meme is because meme currencies are popular on social media. Because of this, the GM token can now bring in money.
The Ethereum blockchains are used to make the GM token, which is based on the ERC20 standard. The people in the GM Wagmi community use it to make decisions and get things done. The current price of GM Wagmi in USD is $0.0000009, and in the last 24 hours, $2.8 Million worth of it has been traded.
- Pac-frog Man’s (PAC)
The network wants to be the best place for DeFi, GameFi, NFT, and a DAO community because it has so many new and innovative features.
People have said the best things about Pac-man Frog are the multichain launchpad and the game tokens. But the network pays a lot of attention to NFTs because its NFT marketplace and aggregator make sure that NFT launches go smoothly. Investors may also be able to look at price data for NFTs.
Besides that, it gives regular people early access to a lot of cryptocurrencies. Pac-Man Frog makes this possible because it encourages streamlining, encouraging, and mentoring in the world of virtual games.
The Solana ecosystem was used in the project, which is probably the most interesting part of it. This makes it easy for Pac-man Frog to get things done quickly and cheaply. So, investors can trade PAC at a rate of more than 50,000 times per second and spend less than $0.00001 on each trade.
Meme coins are getting more and more popular on all social media sites, and if this keeps up, the market can only get bigger and bigger. More people are buying meme tokens with cryptocurrency, and you might want to do the same. For those who want to invest in cryptocurrency, bitql sign up platform is a good choice.
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