Dogecoin price continues to outperform its peers as it inches closer to obliterating one zero. In just 14 days, DOGE’s value has grown by 22.2% to trade at $0.088 at the time of writing. The largest meme coin will probably close the week above $0.1 as the bulls eye a return to $0.1586.
Meme coins have generally gained traction since the New Year, with their total market capitalization growing to $19 billion. Dogecoin accounts for the largest chunk of the meme coins’ market share at $11.8 billion. Shiba Inu, which surged by 15.4% in 24 hours, is the second-largest dog-themed token with $7.1 billion in market cap.
Other best-performing meme coins include Dogelon Mars up 15.7% in seven days, FLOKI up 27%, Kishu Inu up 28.2%, Shiba Predator, up 20% and Hoge Finance, up 31% in the same period.
It is worth mentioning BONK, which despite being a new token, has gained a huge following for being the first Solana blockchain meme coin. Needless to say, Tamadoge (TAMA) is up 6.6% in a week to exchange hands at $0.0143. TAMA has the potential to become the largest meme coin in the market bolstered by several use cases as a play-to-earn and metaverse token.
Is Dogecoin Price the Meme Coin to Watch This Week?
The OG meme coin, DOGE is sitting on top of robust support at $0.0847, reinforced by the 200-day Exponential Moving Average (EMA) (in purple). Slightly below this level is confluence support created by the 100-say EMA (in blue) and the 50-day EMA (in red) at $0.0806.
Dogecoin price’s immediate downside is also home to a critical falling trend line. All these support areas emphasize DOGE’s undeniable ability to continue with the uptrend and eat one more zero for gains above $0.1.
The Moving Average Convergence Divergence (MACD) indicator adds credibility to the optimistic outlook for to buy Dogecoin. Notice the MACD (line in blue) crossing above the signal line (in red). The momentum indicator has also crossed above the mean line which hints at an increasing bullish presence in the market.
The Money Flow Index (MFI), a momentum indicator, shows that buyers have the upper hand. This index measures the flow of money in and out of a ‘security’ over a specified period. It is similar to the popular Relative Index (RSI) but relies on volume whereas the RSI considers price only.
Dogecoin Price On the Cusp of A Massive 178% Move
The same daily time frame chart reveals the formation of a symmetrical triangle pattern likely to open the door to a colossal 178% breakout to $0.2414. However, buyers must crack through resistance at the falling trend line to give life to this expected move. Symmetrical triangles have no bullish or bearish biases but are validated by a breakout above or below.
Tamadoge (TAMA): The Meme Coin for Long-term Growth
Dogecoin and Shiba Inu have for a long time, struggled when it comes to utility. However, the team behind Tamadoge saw the bigger right from inception. TAMA’s use cases cut across Tamaverse – a play-to-earn platform enabling players to earn crypto-based rewards.
TAMA is the main currency for purchasing Tamadoge pets, which are virtual dog-like avatars, each with their own distinct attributes, strengths, weaknesses, and are minted as NFTs through smart contract technology.
Tamadoge pets can participate in contests and tournaments where successful ones are rewarded with TAMA tokens. Additionally, the Tamadoge whitepaper plans to unveil an augmented reality Tamadoge app in 2023, keeping the same player-to-environment dynamics as the current web-based protocol.
The team is also creating a type of Arcade game, where players can engage in various Tamadoge activities and gain tangible rewards. Based on the latest communication from the team, the beta version of the Arcade game has been open to the public.
So far, the beta testing has recorded over 3,000 total plays and counting. Besides, the metaverse and P2E platforms, users within the Tamadoge ecosystem can shop across global brands and buy gift cards.
Investors can join the TamadogeArmy with the best cryptocurrency to buy in 2023 to take advantage of another potential meteoric rally. Remember, Tamadoge quickly raised $19 million in its presale within eight weeks and saw a 2,000% increase in value after listing on the OKX exchange – this crypto asset is highly recommended as one of the best-emerging cryptos for long-term investment.
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