Dogecoin Price Plunges 6% As This Meme Coin ICO Raises $7.2M

Join Our Telegram channel to stay up to date on breaking news coverage

The Dogecoin price plunged 6% in the last 24 hours to trade at $0.3623 as of 2 a.m. EST on trading volume that surged 50% to $6.37 billion.

Due to the plunge, the DOGE price broke the $0.38 late yesterday, December 18. Earlier, it dipped to the support at $0.35, but it quickly recovered from this level back to $0.36.

Dogecoin Price Prediction

After seeing several major price drops and minor corrections in the last few days, Dogecoin has seemingly found certain stability for the time being. Its price has been flat in the last 12 hours, not counting a brief drop and the following recovery some six hours prior to the time of writing.

The coin’s Bollinger bands saw an extremely sharp widening yesterday afternoon, followed by just as sharp narrowing, and then another widening, and finally another tightening. These sharp and sudden changes in trends suggest growing uncertainty in the market and are opening the possibility for great fluctuations.

Dogecoin Price Prediction

The project’s Relative Strength Index (RSI) value also suggests that the coin has reached a certain stability for the time being. Yesterday, when the coin first dropped to the price of $0.36, the RSI ventured deep into the oversold territory, but while it managed to recover from the value of 20 to 46, the price did not mirror this increase.

Then, when DOGE suddenly dipped to $0.345 , the RSI dropped back to the oversold zone, only this time barely to 28. After that, traders bought the dip, pumping DOGE back to $0.36, and its RSI surged back up to the neutral zone, seeing small fluctuations around the value of 50 ever since.

For the most part, the RSI value has been going from 47 to 52 in the last six hours, waiting for the larger market trend that would cause its price to break out. As for where it will go, that will depend on the wider market sentiment, or rather, on Bitcoin’s performance.

The BTC price is dominating the market right now and dictating the behavior of most cryptos.

Promising Alternative To Dogecoin

Fortunately, there are alternatives to Dogecoin that could prove both safer to invest in right now, and more rewarding. One option to consider is Flockerz (FLOCK), a relatively new meme coin presale.

Flockerz is a bird-inspired meme coin that comes with a unique new model called Vote-To-Earn (V2E). It was introduced as a way to provide incentives to the project’s token holders, and ensure they would participate in the project’s governance.

Put simply, Flockerz rewards its token holders whenever they vote on a proposal. The rewards will be distributed automatically, and once they get them, users can do whatever they want with the funds.

With that said, likely the most rewarding thing to do would be to HODL and stake the tokens as Flockerz also offers high staking rewards. In other words, you could invest in FLOCK once, then earn more by voting on its proposals, and then earn even more by staking the tokens and earning staking rewards, which also come in the form of FLOCK.

The project was designed to help you earn passively, thus minimizing the risk, and many who got tired of losing money through trading and investing really liked the opportunity, which is why its ICO blew up, raising over $7.26 million as of December 19.

Even ClayBro, a crypto YouTuber with 134k subscribers, believes that Flockerz could have up to 25x potential thanks to its innovative approach and a unique rewards system.

Investors can buy FLOCK tokens for only $0.0064781 right now. With a price hike coming in less than 3 days, don’t wait too long to lock in the best deal.

Visit FLOCK here.

Newest Meme Coin ICO – Wall Street Pepe