As the Dogecoin price stays complacent following the stir generated by the ongoing German and Mt.Gox Bitcoin sell-offs, investors seem to be shifting their gaze to a new ICO, 99Bitcoins (99B), which is cited to see 1000% gains.
Over the last 24 hours, the Dogecoin price has seen a modest 0.73% gain amid broader market growth, where meme coins averaged a 1.3% increase.
Today’s gains have done little to recover Dogecoin’s 8.25% drop since last Tuesday. While disappointing, DOGE’s price action aligns with the losses of other major cryptocurrencies.
Over the past month, Dogecoin has fallen 24.88%. Despite this, it still retains a modest annual return of 67.05%.
Indeed, with less-than-optimal price action in recent weeks, trader interest in Dogecoin has dipped. The coin’s 24-hour trading volume has fallen by 14.39% to $549.38M over the past day.
Dogecoin Price Approaches Breaks Out of Pattern – Upside Ahead?
Despite investor hesitance, a closer look at the charts may indicate some upside potential.
Most notably, Dogecoin has just broken out of the ascending triangle pattern in a display of bullish momentum after being contained by consolidation over the past week.
Dogecoin’s Relative strength index (RSI) (Purple) supports the realized momentum, which now stands at a firm 60.
While these indicators do look positive, wider trends will provide the best insight into where the Dogecoin price is headed.
Notably, the 20DMA (yellow) has started to trend upward, converging towards the 200DMA (blue), which displays a strong downtrend.
A successful crossover above the 200DMA could represent further upside in the near term, as the asset’s short-term momentum overcomes its long-term downtrend.
If this proves true, Dogecoin may rise to the $0.12050 resistance level, reclaiming the support it lost last week.
Any gains may be limited as the wider trend strongly favors further downside, however.
Such a small recovery will do little to detract from Dogecoin’s disappointing price action over the past year. Therefore, it is no surprise that traders are exploring other options for more substantial returns.
99Bitcoins Cited 1000% Gains Potential
99Bitcoins is an Ethereum-based learn-to-earn platform that addresses the crypto market’s need for education and user engagement.
The project’s learn-to-earn model appeals to both seasoned crypto investors and newcomers, offering a unique value proposition. By combining educational content with financial incentives, 99B drives engagement and learning simultaneously.
Despite recent market volatility, 99Bitcoins presents a passive income opportunity with staking rewards. The platform currently offers an annual percentage yield (APY) of up to 716% for early stakers.
Besides staking rewards, the $99BTC token offers holders exclusive benefits. These include access to premium trading courses, VIP community groups, mentoring, and trading signals.
This utility could drive long-term demand for the token as users seek valuable resources to enhance their trading skills and strategies. This potential is reflected in 99Bitcoins’ recent success, boasting over 700,000 YouTube subscribers and 2 million users signed up for crypto courses already.
This opportunity is only amplified by wider market waves. Most significantly, 99Bitcoins is well-positioned to capitalize on the anticipated US Spot Ethereum ETF Approval and the increased interest it will bring to the Ethereum ecosystem.
Visit 99Bitcoins Now
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