The Dogecoin price dropped 4% in the last 24 hours to trade at $0.1226 as of 3.10 a.m. EST on trading volume that slumped 40% to $877.3 million.
While the world’s oldest and largest meme coin is still more than 14% in the green on the 7-day chart, its daily performance saw a strong price dip with the arrival of Sept. 30.
Dogecoin Price Prediction
The Dogecoin price seemingly found its support at $0.122, and has managed to stay slightly above it over the last several hours, with its price mostly stabilizing. Technical indicators suggest stability as well, although the coin could see a price surge if the bulls regain their strength in the last several hours.
Right now, Dogecoin’s Bollinger bands have narrowed compared to their state during the price drop. However, during the drop, the price kept pushing the lower band down, so while narrowing is typically not a bullish sign, the price’s return to the middle point between the upper and lower band is a positive change.
At the same time, the coin’s Relative Strength Index (RSI) value has also reached the neutral area of 47.92 as of the time of writing. Previously, the RSI value touched the overbought zone by climbing to the value of 70, only to immediately crash all the way down to 20, deep in the oversold area.
This suggests that traders reacted and have taken profit as soon as the RSI metric reached the desired value of 70. The RSI’s return to the neutral zone suggests stability, at least for the time being.
As for the short term future, the coin could see a recovery in hours to come, as this is typically what follows a sharp drop such as the one DOGE has seen in the last 24 hours. But, for the time being, it is clear that Bitcoin’s influence has a strong impact on DOGE, so the meme coin will likely follow the older crypto’s lead, just like the rest of the market.
Promising Alternative To Dogecoin
With the Dogecoin price heading south, investors might consider a new presale called Crypto All-Stars (STARS), which has raised more than $1.8 million.
Crypto All-Stars is a project that focuses on staking, and it’s revolutionizing things by inventing a new staking smart contract called MemeVault that enables users to stake any major meme coin.
This will be a game-changing product for those with a large meme coin investment portfolio, as they won’t have to stake each of their coins in a separate smart contract.
MemeVault already supports Dogecoin, Pepe, Floki, Brett, Turbo, and Milady Meme Coin, as well as Crypto All-Stars itself and others. The only catch is that you have to have some STARS in order to stake other meme coins.
Crypto YouTuber ClayBro, with over 130k subscribers, sees ”a major bullish market ahead” for Crypto All-Stars.
STARS tokens sell for only $0.001471 and can be bought with ETH, USDT, BNB, DOGE, FLOKI, SHIB, PEPE, or banks cards. Buy before a price increase in less than 23 hours for the best deal.
Visit the official STARS website here.
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