Dogecoin (DOGE) is making waves again, with the coin’s price once again approaching the $0.20 pivot level.
This week’s resurgence has reignited the speculative buzz around Dogecoin and other meme coins in the crypto market.
As DOGE rallies, an upcoming project taking inspiration – Dogecoin20 (DOGE20) – has made headlines by raising over $10 million in its pre-sale phase.
$0.20 in sight for DOGE as buying momentum builds
Dogecoin has rallied this week, trading around $0.199 after surging 11% from yesterday’s lows.
The upward surge did not come without volatility, however: DOGE rose as much as 15% overnight before a wave of profit-taking caused a pullback.
At one point, the buying frenzy pushed DOGE as high as $0.206.
This represented a retest of the pivotal resistance level that halted Dogecoin’s advance on March 5.
Although DOGE has not been able to hold these highs initially, the recent momentum could position it for another crack at this strong resistance zone in the near future.
Despite the slight overnight retracement, DOGE closed four of the last five daily sessions in the green.
This streak of consecutive bullish days suggests that the overall trajectory of the OG meme coin is turning bullish again.
Some analysts, like JD on Twitter, believe that once $0.205 is clearly above $0.205, it will be “moon time” for Dogecoin.
Coinbase Backbone Reignites Coin Frenzy
The recent buzz around meme coins extends well beyond DOGE.
The growing Base blockchain developed by Coinbase has become a hotbed for newly launched meme coins and tokens aimed at speculative investors.
Data shows that Base has seen a burst of activity in recent weeks.
Transaction volumes have tripled, unique wallet addresses have doubled, and over $1 billion in total value is now locked in the Base ecosystem.
This growth was mainly fueled by the rapid trading of new coins like Toshi (TOSHI) and Brett (BRETT).
Base’s direct accessibility from the main Coinbase exchange appears to be a driving factor.
As a relatively new blockchain close to Coinbase’s massive user base, Base could be the first port of call for newly onboarded retail traders looking to explore the meme coin space.
The hype around Base and its prospects appears to be spreading to other non-Base meme coins – including Dogecoin.
If this trend of meme coin mania on Base continues, DOGE could benefit from renewed interest from speculative traders.
Last chance for discounted DOGE20 as presale raises $10M ahead of Uniswap debut
As Dogecoin attempts to reclaim $0.20, another project in the meme coin sector has also reached a key milestone.
The high-profile Dogecoin20 presale officially hit its $10 million cap earlier this week, selling out the entire allocation of DOGE20 tokens ahead of Uniswap’s planned listing.
For coin enthusiasts still looking to participate, there is one final opportunity.
The Dogecoin20 team has opened a limited “post-presale” phase offering DOGE20 tokens at the discounted price of $0.00022.
This phase ends on April 20 – known as “Doge Day” in crypto circles.
On that day, DOGE20 investors will be able to claim their tokens and the first exchange listing will take place.
When the token is listed on Uniswap, many early backers believe it is well-positioned for price appreciation.
Indeed, Dogecoin20 combines the beloved Dogecoin mascot with innovative tokenomics aimed at creating long-term interest for holders.
Its fixed supply of 140 billion tokens, with 10% allocated to Uniswap’s seed liquidity, could enable the type of price momentum that leads to sustained upside.
At the same time, DOGE20’s staking rewards program, which distributes returns over two years, offers additional incentives to holders.
Additionally, with 25% of the token supply going toward aggressive marketing initiatives, developers clearly understand that the success of meme coins depends as much on social media impact as fundamentals.
The hype around Dogecoin20 has even attracted notable backers like Austin Hilton and ClayBro, who have produced YouTube videos praising the project.
Overall, if the exhaustion of presales is any indication, DOGE20 could be gearing up for an explosive market debut.
Visit the Dogecoin20 presale
reference: watcher.guru