{"id":39875,"date":"2023-11-01T12:09:34","date_gmt":"2023-11-01T12:09:34","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/dogecoin-price-prediction-as-doge-drops-3-dip-buying-opportunity\/"},"modified":"2023-11-01T12:09:39","modified_gmt":"2023-11-01T12:09:39","slug":"dogecoin-price-prediction-as-doge-drops-3-dip-buying-opportunity","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=39875","title":{"rendered":"Dogecoin Price Prediction as DOGE Drops 3% \u2013 Dip-Buying Opportunity?"},"content":{"rendered":"
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The Dogecoin price has dropped by more than 3% today, falling to $0.066361 on a day when the crypto market overall has barely moved in 24 hours.<\/p>\n

Despite today\u2019s loss, it has gained by 1% in a week and by 12% in a fortnight, although the original meme token is actually down by 57% in the last 12 months.<\/p>\n

This drop comes as many major tokens (e.g. BTC, ETH, XRP, SOL) have posted good gains since the start of the year, with the Dogecoin price suffering from a long-term decline.<\/p>\n

Yet if X (formerly Twitter) announces any news regarding plans to introduce payments, DOGE could recover strongly.\n<\/p>\n

Dogecoin Price Prediction as DOGE Drops 3% \u2013 Dip-Buying Opportunity?<\/h2>\n

\nDogecoin\u2019s technical indicators reflect its weakened position, suggesting further falls to come in the next few days.<\/p>\n

In particular, its relative strength index (purple) is falling steeply towards 50, having been above 70 only a week ago.<\/p>\n

Source: TradingView<\/figcaption><\/figure>\n

The RSI could fall all the way down to 30 or lower in the next week, while the coin\u2019s 30-day average (yellow) looks like it\u2019s about to flatten out and also go south.<\/p>\n

Another negative sign is that the Dogecoin price has just fallen below its 200-day average (blue), another indicator of likely incoming losses.<\/p>\n

It will therefore be interesting to see whether DOGE\u2019s support level (green) can hold up against selling pressure, given how steeply the coin has fallen in the past couple of days.<\/p>\n

While it\u2019s unlikely that it will fall back down to the level it held in the first half of October (c. $0.0580), it could return to $0.060 before stabilizing again.<\/p>\n

It\u2019s also concerning that DOGE has fallen so hard at a time when the wider market has actually been doing pretty well.<\/p>\n

For example, most major tokens have risen quite healthily in the face of recent positive Bitcoin ETF news, with Solana (SOL) up by 64% in the past fortnight, for instance.<\/p>\n

Yet DOGE already appears to be in the process of losing most of its gains, with little in the way of fundamentals to support it.<\/p>\n

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Dogecoin payments coming to X soon? \ud83d\udc40 pic.twitter.com\/YyyGzXPHyj<\/a><\/p>\n

\u2014 \ud835\udce3 \ud835\udcde \ud835\udcdf \ud835\udcd3 \ud835\udcde \ud835\udcd6 \ud835\udcd4 \ud83e\udeac (@TOPDOGE007) October 27, 2023<\/a><\/p>\n<\/blockquote>\n

Yes, it\u2019s still hoping that X (formerly Twitter) follows through with its plans to introduce payments on its platform, yet there\u2019s no indication of whether crypto \u2013 and Dogecoin \u2013 payments will be a part of this.<\/p>\n

For this reason, the Dogecoin price could slide considerably before any positive news comes the cryptocurrency\u2019s way, potentially\u00a0falling below $0.060 by the end of the year.\n<\/p>\n

Newer, Stronger Meme Tokens<\/strong><\/h2>\n

\nDogecoin may be uncertain at the moment, but there are several newer meme coins in the market right now that show plenty of promise.<\/p>\n

A great example of this is Meme Kombat (MK), an ERC-20 cryptocurrency whose platform will enable users to bet on AI-generated battles between memes.<\/p>\n

Impressively, Meme Kombat has already raised more than $1 million in its presale, which began at the start of last month.<\/p>\n

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WE DID IT FIGHTERS!<\/p>\n

We reached $1 MILLION in our presale raise\ud83d\udd25\u2694\ufe0f pic.twitter.com\/SvCu1zoj36<\/a><\/p>\n

\u2014 Meme Kombat (@Meme_Kombat) November 1, 2023<\/a><\/p>\n<\/blockquote>\n

<\/figure>\n
<\/figure>\n

This figure stands as a strong market endorsement of Meme Kombat, which will let its users bet against each other or against the platform itself.<\/p>\n

Winners of bets on the platform\u2019s meme battles will win its native MK token, which can also be staked in order to earn a passive income.<\/p>\n

This potentially makes the token highly profitable, with MK set to have a hard cap of 120 million.<\/p>\n

Also, the use of popular memes looks like it\u2019s already helping to attract a growing community, with Meme Kombat\u2019s Telegram channel now having more than 3,000 members.<\/p>\n

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We have reached 3000 fighters in the Meme Kombat Telegram Community\ud83c\udf89<\/p>\n

Let’s keep the community strong. Answer with the one thing that excites you most about #MemeKombat<\/a>\u23ec pic.twitter.com\/HU3S002kni<\/a><\/p>\n

\u2014 Meme Kombat (@Meme_Kombat) October 25, 2023<\/a><\/p>\n<\/blockquote>\n

This suggests that Meme Kombat could become highly popular once its platform launches in the next few weeks, once its presale ends.<\/p>\n

New investors can join this sale by heading over to Meme Kombat\u2019s official website, where 1 MK currently costs $0.1667.<\/p>\n

This will rise to $0.1883 on November 2, with the sale receiving 50% of the coin\u2019s total supply.<\/p>\n

Another 30% will go to battle and staking rewards, making MK one of the most decentralized meme tokens in the market.<\/p>\n

Visit Meme Kombat Now<\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n

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