Dogecoin has outpaced the market today as its price pumps 10% and crosses the $0.21 mark.
Meanwhile, the next-generation meme coin Dogecoin20 surged past $10 million in the first week of presale and now looks ahead to its 4/20 Doge Day IEO.
Leading Analysts Back Dogecoin to Outperform Market With Massive Gains
A slew of renowned market analysts have provided bullish price forecasts for Dogecoin, suggesting the leading meme coin faces a bullish upcoming trajectory.
Currently, DOGE is trading at $0.21, up 10% today, 38% this week, 69% this month, and 187% this year.
Nevertheless, analysts anticipate much more upside to come.
“DOGE easily has another leg up left in it here. Send it higher,” said Kaelo in a recent tweet.
The analyst highlighted that Dogecoin recently broke and retested its November 2022 resistance, speculating the next “leg up” will catapult it toward $0.3.
Similarly, Rekt Capital anticipates a move toward $0.3, noting that Dogecoin has broken a long-term trendline resistance.
“Dogecoin has ended its macro downtrend and begun a new macro uptrend,” the analyst explained.
He continued, “If DOGE monthly closes above the red $0.20 level, it will reclaim historical support that could offer further fuel for a move towards the $0.30+ area.”
Last week, CryptoWizzardd, who goes by Wizz, said that Dogecoin could “pull numbers over the next 3-4 weeks.”
While the Wizz did not explicitly provide a price target, the analyst did depict a price chart with a marked level of $0.44. This represents a whopping 109% increase from its current price.
Indeed, these predictions illustrate a notably bullish outlook for Dogecoin in the coming weeks. However, prominent trader Jelle says that Dogecoin’s outlook also sets a bullish precedent for other dog-themed meme coins.
“DOGE is starting to move again, paving the way for another dog-themed rally. FLOKI & SHIB took most of the shine in the previous rally, and it looks like the Vikings are trying to claim that throne once more. Looks ripe for a breakout.”
Although Jelle is bullish on Floki and Shiba Inu, other analysts are venturing deeper into the realms of meme coin degeneracy, seeking new projects that present more room for growth.
One is Dogecoin20, a new ICO that has raised over $10 million in one week.
New Meme Coin Dogecoin20 Backed to Explode
Enter an enthralling paradigm of memetic excitement with Dogecoin20, a next-generation Dogecoin derivative with tangible benefits and unwavering community support.
While retaining the vibrant essence that exploded Dogecoin’s popularity, Dogecoin20 ushers in compelling financial innovations, retrofitting the legacy meme coin with mechanisms suitable for current market dynamics.
The project launched on the Ethereum network, ensuring widespread accessibility and boundless functionality.
Its flagship product is a Stake-to-Earn mechanism, enabling $DOGE20 holders to generate passive rewards on their investment. Currently, they can garner an 84% APY, but this will decrease as the staking pool grows.
So far, 33,274,003,895 DOGE are staked, reflecting a deep market appetite to acquire more tokens.
Another advantage is Dogecoin20’s capped supply. Dogecoin holds an infinite supply, making it inflationary and susceptible to price dilution.
Meanwhile, Dogecoin20 embraces the “sound money” principle pioneered by Satoshi Nakamoto in the creation of Bitcoin, holding a capped supply of 140 billion tokens.
These factors have drawn immense excitement among investors and leading analysts alike.
“New 100x potential meme coin – Next Shiba Inu or Dogecoin?” Said Jacob Bury in a recent YouTube video.
But those looking to buy must act fast. The project will launch on exchanges on 20 April (Doge Day).
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