The article discusses the recent volatility of Dogecoin’s price during the Tuesday US trading session, where it briefly surged to $0.12 before retracting to $0.1120. This movement was influenced by a substantial 700 million DOGE transfer worth over $78 million, leaving investors speculating on its future direction. Dogecoin has been following the broader market trend, with Bitcoin rallying towards multi-month highs near $68,000 before slipping back to around $66,000. With the US presidential election heating up, discussions about a potential “Uptober” rally have intensified, especially as pro-crypto candidate Donald Trump gains traction in the betting markets.
Despite market volatility, Dogecoin’s price chart shows encouraging signs for bulls, with the coin finding strong support at its 50-day moving average (50DMA) and remaining in an uptrend since reaching its August lows. Investors are closely watching on-chain whale activity, particularly the transfer of 700 million DOGE, as a potential indication of a price surge. On Monday, the transfer worth over $78 million caught the attention of the crypto community, with on-chain volume spiking nearly fourfold to $400 million. These activities suggest that large holders may be positioning themselves for a potential breakout, leading to discussions about the future price of Dogecoin.
If the broader crypto bull market continues and Bitcoin achieves new all-time highs later this year, Dogecoin could potentially see gains of up to 3x from its current levels. Some meme coin investors are setting their sights even higher, hoping for more substantial returns. For those seeking significant upside potential, participating in meme coin presales before they gain widespread attention could be the key to achieving major returns. One such project gaining attention is Meme Bets (MEMEBET), an upcoming Telegram/web crypto casino that allows users to bet with popular meme coins, positioning itself as the first GambleFi protocol of its kind. The project’s presale has already raised $460,000, thanks in part to its generous airdrop program that has generated excitement among early investors.
Investing in meme coin presales offers the potential for higher returns, especially if the project gains widespread attention in the future. Meme Bets (MEMEBET) is one such project that has been gaining traction due to its innovative approach in allowing users to bet with popular meme coins through a Telegram/web crypto casino. The project’s presale has already raised $460,000, with excitement among early investors. Participating in such presales offers the opportunity to get in early on new meme coin projects and potentially achieve significant returns as the project gains popularity in the emerging GambleFi sector. Considering the high-risk nature of crypto assets, it is essential to conduct thorough research and due diligence before investing in such projects.
