The post New Highs Coming for Dogecoin (DOGE): 3 Meme Coins to Watch as Crypto’s Dog Season Unfolds appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE) jumped nearly 5% on Wednesday, extending its strong four-day rally after Elon Musk’s recent support for Donald Trump and hints at a “Department of Government Efficiency (D.O.G.E.).” This uptick has fueled speculation that DOGE might soon set new yearly highs. Since bouncing off its 100-day Simple Moving Average (SMA) on October 26, Dogecoin has climbed 27%. Analysts believe it could breach the key $0.1756 resistance level; if DOGE holds above this, it could test its yearly peak at $0.2288. However, market observers note some caution signals. ChangeNOW CMO Pauline Shangett remarked,  “With Dogecoin’s Relative Strength Index (RSI) now in overbought territory, and over 92% of the total supply currently in profit, there’s potential for sell pressure as investors look to book some gains. Such profit-taking could lead to a near-term pullback, creating price correction risks even amidst DOGE’s current bullish momentum.” Dogecoin’s Market Value to Realized Value (MVRV) ratio, assessing holder profit based on last movement price, is now at a five-month high and indicates that DOGE holders are, on average, 81% up. While the high MRVR ratio also points to potential for correction, some investors see it as a marker for a new meme coin season. With this resurgence, three dog-themed cryptocurrencies may again capture the market’s attention, sparking another “crypto dog days” period. Husky Inu (HINU): The Next Big Dog in Crypto Husky Inu ($HINU) burst into the crypto world with big ambitions, setting its sights on dog-themed crypto heavyweights like Dogecoin and its sidekick, Shiba Inu. With its innovative Earn App and Decentralized Exchange (DEX) on the way, Husky Inu aims to keep users engaged and rewarded. The upcoming Earn App will enable users to earn $HINU tokens simply by interacting with the platform, while the DEX will facilitate seamless, decentralized trading – boosting both…

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Filed under: News - @ October 31, 2024 2:27 am