- Memecoins maintain a bullish trend amid market positive momentum.
- Dogecoin spikes on Elon Musk’s hint, eyeing resistance at $0.2193.
The cryptocurrency market is witnessing an unprecedented surge, with Bitcoin breaking past the $73,600 mark and Ethereum teasing the $4,000 threshold. It sets the stage for potentially groundbreaking future price actions amid Bitcoin halving arrival. Alongside, the broader market rally, memecoins, known for their volatile yet often lucrative nature, have particularly stood out, capturing the attention of investors and traders alike.
Dogecoin (DOGE)
Dogecoin (DOGE), the pioneer memecoin, has seen a significant uptick in its value, registering a 6% increase over the past 24 hours. This surge has propelled its market capitalization to $25 billion, with trading volumes also seeing a rise of 17%, reaching $2 billion.
Elon Musk hints at enabling $DOGE payments at @Tesla during his Berlin visit to @Gf4Tesla!$DOGE spikes 11% from $0.17330 to $0.19289 within an hour in Asian morning trading!
— TheNewsCrypto (@The_NewsCrypto) March 14, 2024
As he says '#Dogecoin to the Moon!', wen might it be?🌕🚀 pic.twitter.com/MAjdEkbkmZ
Notably, the coin received a considerable boost following a hint from tech mogul Elon Musk about the potential integration of DOGE payments for Tesla. This news triggered an 11% price spike, from $0.17330 to $0.19289.
Analysts remain optimistic, suggesting that if the bullish momentum persists, DOGE could soon breach the resistance level at $0.2193. However, they also caution that a bearish reversal could see it retract to $0.1461. The asset’s daily Relative Strength Index (RSI) stands at 68, indicating strong buying pressure.
Dogwifhat (WIF)
Another memecoin making headlines is Dogwifhat (WIF), which has outperformed many of its peers by surging 63% over the past month. In the last 24 hours alone, it has seen a 25% increase in both its market cap and trading volume, the latter of which spiked by 87%. With these gains, WIF is testing the waters around the $3.4 resistance level, potentially falling to $1.7 if bearish trends dominate.
Pepe (PEPE)
Pepe (PEPE), another prominent memecoin, has made waves by reaching a new all-time high of $0.00001051. Although it has slightly receded to $0.00001026, its trading volume has surged by 62%, reflecting growing interest among investors. Market analysts suggest that PEPE could push past the $0.00001200 resistance if the bullish trend continues, but a reversal could bring it down to $0.00000684.
MOG Coin (MOG)
MOG Coin (MOG) rounds out the list of memecoins to watch, with a 23% increase in the past day. Its market capitalization has skyrocketed by 272% to $372 million, highlighting a significant uptrend. The coin’s price fluctuated between $0.0000007695 and $0.000001042, settling at $0.0000009568.
As the market dynamics evolve, investors are closely monitoring the memecoins, ready to navigate the ebbs and flows of what promises to be an exciting year in the world of cryptocurrency.
