Dogecoin could be about to double in value – that’s what a leading analyst thinks.
But traders are also eyeing new alternative PlayDoge as its presale total raise nears $6 million.
DOGE Could 2X In August, Says Expert
There’s room for a 100% increase in Dogecoin’s price, according to Titan Of Crypto.
The renowned analyst, who boasts 85K followers, predicts Dogecoin will hit $0.26 in August.
In a recent chart breakdown on X, Titan Of Crypto spotlighted Dogecoin’s historical price action, which shows a recurring pattern that keeps providing explosive gains.
The pattern in question is a descending channel, and each time it breaks out, an increasingly parabolic pump follows.
These breakouts have also occurred in confluence with a “bullish crossover” on the MACD indicator.
#Altcoins Deja vu 👀$DOGE pump imminent?
— Titan of Crypto (@Washigorira) July 21, 2024
On the 3D chart #Dogecoin looks like it's going to sent very soon. pic.twitter.com/eGcU7YlAS0
This is good news for Dogecoin bulls, with the price chart on the verge of another breakout and another bullish crossover.
The analyst’s price chart shows that there was a 31% rally the first time this pattern occurred in 2023.
The next time, there was a 77% rally, and the most recent, there was a 188% rally.
Based on the price chart, Dogecoin could hit $0.26 this month.
However, Titan Of Crypto also left a question mark symbol, alluding that he is unsure exactly how far DOGE could go.
Considering each breakout has been more explosive than the last, we could see an even bigger pump this time.
In agreement with Titan of Crypto, analyst Shelby forecasts a move beyond $0.2 in the coming weeks.
$DOGE 🦈 pic.twitter.com/sRO4myXjLZ
— Shelby (@CryptoNewton) July 20, 2024
Based on Shelby’s chart, Dogecoin will rally toward $0.17 before a brief retracement and uptrend continuation.
As the market leader, Dogecoin is a solid option for those wanting to get their feet wet in the joke token sector.
But traders already familiar with DOGE may want something with higher risk and higher reward.
Numerous experts point to the newly launched PlayDoge as a potential alternative.
New Meme Coin to Watch: PlayDoge Presale Nears $6M
PlayDoge is not your average Dogecoin wanna-be; it’s a groundbreaking Play-to-Earn (P2E) game.
The project is based on the 1990s Tamagotchi game, which sold 82 million units.
The concept is similar: users care for a virtual pet, ensuring it’s happy and healthy.
But here’s the kicker: PlayDoge users earn free crypto. That’s a real game-changer.
Not only do you get to relieve nostalgic gaming experiences – but you also get paid for it.
The game will launch on the App Store and Google Play Store, making it widely available.
It’s one of the most enticing setups in a long time, and analysts are all for it.
The 99Bitcoins YouTube channel speculates $PLAY could 50x to 100x your money.
If correct, that could turn a $1K investment into six figures.
And capital appreciation is not the only way to profit from PlayDoge.
There’s also staking, which currently provides an 82% APY.
There’s a lot to be excited about with PlayDoge, and not least its relation to DOGE.
Given its lower market cap and innate utility, there’s a good chance it will outpace Dogecoin in the months ahead.
Currently, investors can buy $PLAY for $0.00522, but this price will rise throughout the presale.