As Dogecoin Price Explodes, These 3 New Altcoins Might 10x
Dogecoin (DOGE), the cryptocurrency that powers the decentralized dog meme inspired payments blockchain protocol Dogecoin, has fallen by a little over 3.5% this Monday in tandem with a broader pullback in cryptocurrency markets and traditional risk assets like stocks. DOGE/USD last trading in the mid-$0.08s per token.
That means the world’s most popular meme coin is now down about 8% from the six-week highs it posted above $0.09 this weekend. But the DOGE bulls remain confident. The cryptocurrency is still trading higher by about 23% this month and short-term technicals (a rising wedge pattern) point to the likelihood of a continued crawl higher in the coming sessions.
That’s assuming that this week’s barrage of macro risk events, which include highly important Fed, ECB and BoE meetings plus US jobs and ISM survey data, don’t trigger any bearish ructions. If Dogecoin was able to push to the north of its recent highs around $0.09, this would open up the door to a retest of the $0.10 level and a possible run towards early December highs to the north of $0.11.
The rally in Dogecoin is symptomatic of a return in broader cryptocurrency market risk appetite – given Dogecoin was created as a joke, it is seen as a highly speculative investment. If Dogecoin is rallying, that’s usually because investors are piling back into speculative crypto investments. That is certainly the case when you look at the price of some other altcoins, like Solana (up 140% in the last 30 days) and Aptos (up 410% over the same time period).
But investors looking to benefit from a resurgence in cryptocurrency risk appetite shouldn’t only consider tokens that are already trading on exchanges. They should also look at presale tokens – presale investors of
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