The post Can Dogecoin Maintain Its Momentum, or Is AI Meme Coin Raboo The Next Big Profit Maker? appeared on BitcoinEthereumNews.com.

Dogecoin’s price has been a hot topic recently, with some seeing its recent uptrend as a key demonstration that DOGE is gearing up for a rocket-bound adventure. However, new meme coins like Raboo are stealing some of its thunder. Will DOGE keep its momentum, or will Raboo’s AI meme coin be the one to watch? Let’s take a deep dive into these two projects. Short-term Dogecoin gains seem possible Dogecoin has long been considered the king of meme coins. After a relatively quiet debut in 2013, DOGE hit the mainstream in 2021 after the Gamestop short squeeze and the subsequent rise of meme-based cryptocurrencies. Dogecoin price was further boosted by Elon Musk, who frequently tweeted about the coin and even purchased a Shiba Inu pup himself, helping it pump from around $0.003 in December 2020 to a near-unfathomable $0.73 by May 2021. While DOGE has since slowly bled out since then, hitting a low of around $0.055 in mid-2022, it still attracts a massive, loyal fanbase. There are few use cases for DOGE besides a means of payment and microtransactions, meaning it relies heavily on its brand. For an inflationary crypto like DOGE, that doesn’t bode well for its long-term price potential. In 2024, DOGE shot higher, almost tripling between late February and April to a peak of $0.22. After declining to $0.095 in September, DOGE seems to have cleared a significant resistance level at $0.11—seen as key for a further bullish movement to $0.15. It seems there is potential for DOGE to reach $0.15 and possibly $0.22, but with new competitors like Raboo on the scene, future gains may be somewhat limited. Raboo’s new AI meme coin has 100x potential this year It’s no secret that many new meme coins have outperformed Dogecoin in 2024. Now, after raising more…

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Filed under: News - @ September 30, 2024 6:26 am