Dogecoin’s enigmatic run continues as it climbs over 4% and swiftly approaches the $0.2 mark.
Meanwhile, the new meme coin Smog has sent shockwaves through the market, pumping to a $240 million market cap in just one month.
Dogecoin Approaches $0.2, but Analysts Look Ahead to $1
Meme coins are becoming one of crypto’s most dominating asset classes, with the sector’s total market cap recently crossing $60 billion.
Meme coin market leader Dogecoin is thereby enjoying immense bullish momentum, soaring 4.5% today, 20.19% this week, and 113% this month.
DOGE hit $0.2 on Tuesday, 5 March, for the first time since November 2021. Although it rejected the $0.2 level, it has begun approaching a second time following a bounce at $0.13.
Currently trading at $0.1721, Dogecoin holds a $24 billion market cap and a $3.7 billion 24-hour trading volume, up 18% today.
Analysts anticipate a break above $0.2 in the near term.
Trader CryptoGodJohn noted that DOGE has formed a symmetrical triangle chart pattern and anticipates a break to the upside, propelling it past $0.2 this weekend.
Meanwhile, Cryptoknight890 predicts a move to $0.22, highlighting that breaking a resistance zone around $0.16 could enable the run.
At the time of the analysis, Dogecoin was trading at $0.166, but its current price of $0.1721 shows the trade is playing out so far.
Yet, with its price approaching a monumental milestone, other commentators are thinking long-term, with some suggesting $1 is a reasonable target this market cycle.
On-chain analyst Ali Martinez, who goes by Ali_charts on X, said, “This may sound wild, but if history is any guide, Dogecoin $DOGE could hit $1 by mid-April!”
Martinez then displayed a price chart that illustrates Dogecoin’s prior bear market accumulation ranges and the parabolic runs which followed.
It also shows that Dogecoin recently closed above the range for the first time this cycle, indicating the next bull run could be imminent.
Meanwhile, widely followed trader Kaleo, who famously called the 2022 bear market bottom, also anticipates Dogecoin reaching $1.
He wrote, “Doge to $1 isn’t going to be just a meme this cycle.”
Evidently, Dogecoin seems poised with a bullish trajectory. However, other meme coins are also experiencing significant positive market sentiment.
One is the new multi-chain meme coin Smog, which hit a $250 million market cap after soaring 291% this week.
Multi-Chain Meme Coin Smog Draws Traders With Massive Airdrop and 10% Discount on Purchases
Enter the dragon’s lair with Smog, the ultimate multi-chain meme coin with generous community rewards.
Spreading its wings over the Solana and Ethereum blockchains, Smog’s far-reaching accessibility offers vast liquidity potential, helping bolster its recent success.
Currently, Smog is up 291% this week and 565% this month. However, it is down 10.38% today, presenting a discounted buying opportunity before the next potential leg up.
Yet, its multi-chain approach is not the only catalyst for its success. A generous airdrop comprising 35% of its total supply has turned heads across the market, particularly considering the astronomical rise in price and the benefit of this on airdrop rewards.
Simply buying and holding Smog is enough to gain eligibility, but holders can enhance their chances by completing additional quests outlined on the project’s Zealy page.
This presents a win-win for community members, increasing their likelihood of receiving free $SMOG, while the marketing-focused tasks will help spread the word, growing Smog’s community and bolstering its price.
In a two-pronged approach to community rewards, Smog also offers staking with a fixed 42% APY. This also provides a utility stream and encourages long-term holding, negating typical meme coin price volatility.
Buying Smog today via the project’s website yields a 10% discount, but this offer ends soon, so potential investors should act fast.
Visit Smog Website
This news is republished from another source.
