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Meme coin king Dogecoin (DOGE) outperformed other top meme coins such as Shiba Inu (SHIB), WIF, and Pepe Coin (PEPE) this week with a 30% pump. While its counterparts struggled to keep up, DOGE's surge was fueled by the anticipation of the upcoming "Doge Day" on April 20th, propelling the meme coin to break through the crucial resistance level of $0.2.
NuggetRush, a new project, is gearing up for new accomplishments in April. NuggetRush offers a compelling utility as a community-owned blockchain play-to-earn (P2E) game built on the Ethereum blockchain, combining gaming, finance, and social impact.
Supporters of NuggetRush (NUGX) can take part in pre-sale and buy tokens here.
Significance of Doge Day
DOGE Day on April 20th has become a celebratory event for Dogecoin. Supporters have dubbed April 20th as "Dogeday 4/20,". This day is marked by efforts to push the price of Dogecoin to specific targets like $0.42.
It is a day where fans of Dogecoin come together to celebrate and promote this meme coin, with various companies showing support and enthusiasts sharing jokes and memes on social media. This date, April 20, has become significant for Dogecoin, especially after its explosive growth in 2017, leading to the emergence of DogeDay 420 as a notable event.
Dogecoin Price Prediction and Analysis
On the DOGE/USD chart, we can see that DOGE broke out of the long-term descending triangle channel. DOGE was trading inside this channel after hitting its peak in the previous bull run in 2021. The price broke out of this channel in late February when meme coin mania started, but it initially got rejected at the $0.2 resistance level.
For a few weeks, the price traded sideways between $0.14 and $0.18 until today, when it finally broke through the $0.2 resistance, and DOGE is now trading around $0.21. It remains to be seen whether DOGE can hit the $0.42 price target, which is roughly 2x from its current level and in line with the DOGE day price target.
However, before reaching that milestone, DOGE faces significant resistance at $0.29, in line with the 4.236 Fibonacci extension level. On the flip side, DOGE now needs to establish $0.2 as a support level to continue its uptrend.
The $0.09 level should be the most substantial support zone amid any major market crashes, as this is in line with the 200-day moving average.
The Relative Strength Index (RSI) is currently at 80, indicating that DOGE is in an overbought territory. Additionally, the MACD line is above the MACD signal line, suggesting a bullish momentum.
From here, DOGE could potentially consolidate around the $0.2 level before attempting to break through the $0.29 resistance. If successful, the next significant target would be the psychological level of $0.42, fueled by the Doge Day hype.
However, a failure to hold above $0.2 could lead to a retracement towards the $0.14-$0.18 range or potentially even lower towards the $0.09 support zone.
NuggetRush (NUGX) introduces new meme coin
NuggetRush is a new meme coin gearing up for launch on exchanges in April after a successful presale where over $3.4 million was raised, and over 250 million NUGX tokens were sold. This community-owned blockchain play-to-earn (P2E) game built on the Ethereum blockchain combines gaming, finance, and social impact.
Players can immerse themselves in a virtual mining universe, where they can mine gold, buy cryptocurrencies, play advanced games, and explore virtual mining terrains. NuggetRush fosters a vibrant community of gamers and NFT enthusiasts, providing a marketplace for trading NFTs, unique characters, and mined minerals.
The presale price of NUGX was $0.019, with a listing price set at $0.020.
Tomiwabold Olajide
Gamza Khanzadaev
Yuri Molchan
